Royal Bank of Canada (RY) Price Target Raised to C$105.00 at Canaccord Genuity
Other equities research analysts also recently issued research reports about the company. Barclays PLC increased their price objective on Royal Bank of Canada from C$94.20 to C$96.00 in a research report on Friday, August 25th. BMO Capital Markets reiterated a market perform rating and issued a C$100.00 price objective on shares of Royal Bank of Canada in a research report on Thursday, August 24th. Eight Capital increased their price objective on Royal Bank of Canada from C$102.00 to C$105.00 in a research report on Friday, August 25th. Scotiabank downgraded Royal Bank of Canada from an outperform rating to a sector perform rating and lowered their price objective for the stock from C$102.00 to C$100.00 in a research report on Monday, August 21st. Finally, National Bank Financial lowered their price objective on Royal Bank of Canada from C$101.00 to C$99.00 and set a sector perform rating on the stock in a research report on Thursday, August 24th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Royal Bank of Canada presently has an average rating of Hold and an average price target of C$100.25.
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The company also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Thursday, October 26th will be given a dividend of $0.91 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.87. The ex-dividend date is Wednesday, October 25th. This represents a $3.64 dividend on an annualized basis and a yield of 3.61%.
In other news, Director Thierry Vandal purchased 729 shares of the stock in a transaction on Friday, September 15th. The shares were acquired at an average price of C$91.91 per share, for a total transaction of C$67,002.39. Also, insider Jennifer Anne Tory sold 364 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of C$91.78, for a total value of C$33,407.92. Insiders have sold 25,348 shares of company stock worth $2,405,033 in the last 90 days.
Royal Bank of Canada Company Profile
Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.
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