Royal Bank of Canada (TSE:RY) (NYSE:RY) has been assigned a consensus recommendation of “Hold” from the twelve research firms that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is C$99.27.

A number of brokerages recently issued reports on RY. Scotiabank cut Royal Bank of Canada from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$102.00 to C$100.00 in a research note on Monday, August 21st. BMO Capital Markets reiterated a “market perform” rating and set a C$100.00 price target on shares of Royal Bank of Canada in a research report on Thursday, August 24th. National Bank Financial decreased their price target 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. Eight Capital upped their price target on Royal Bank of Canada from C$102.00 to C$105.00 in a research report on Friday, August 25th. Finally, Barclays PLC upped their price target on Royal Bank of Canada from C$94.20 to C$96.00 in a research report on Friday, August 25th.

In related news, insider Jennifer Anne Tory sold 360 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of C$93.63, for a total value of C$33,706.80. Also, Director Thierry Vandal acquired 729 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was bought at an average price of C$91.91 per share, for a total transaction of C$67,002.39. Over the last 90 days, insiders sold 25,364 shares of company stock worth $2,361,633.

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Royal Bank of Canada (RY) opened at 98.11 on Friday. The company has a market capitalization of $143.04 billion and a price-to-earnings ratio of 13.40. The company’s 50-day moving average is $93.53 and its 200-day moving average is $94.22. Royal Bank of Canada has a 52-week low of $81.57 and a 52-week high of $99.90.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Thursday, October 26th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Wednesday, October 25th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.87. This represents a $3.64 annualized dividend and a dividend yield of 3.71%.

About Royal Bank of Canada

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.

Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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