Royal Bank of Canada (TSE:RY) Announces Quarterly Dividend of $1.35

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) announced a quarterly dividend on Thursday, May 25th, RTT News reports. Shareholders of record on Wednesday, July 26th will be given a dividend of 1.35 per share by the financial services provider on Thursday, August 24th. This represents a $5.40 dividend on an annualized basis and a yield of 4.45%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.32.

Royal Bank of Canada Stock Down 1.8 %

TSE:RY opened at C$121.48 on Friday. Royal Bank of Canada has a fifty-two week low of C$116.75 and a fifty-two week high of C$140.18. The firm’s fifty day simple moving average is C$130.14 and its 200-day simple moving average is C$132.25. The stock has a market cap of C$168.86 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 4.62 and a beta of 0.74.

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) last issued its earnings results on Wednesday, March 1st. The financial services provider reported C$3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$2.92 by C$0.13. Royal Bank of Canada had a net margin of 29.76% and a return on equity of 14.23%. The company had revenue of C$15.09 billion during the quarter, compared to analysts’ expectations of C$13.07 billion. Equities analysts anticipate that Royal Bank of Canada will post 11.5522252 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on RY. Barclays reduced their price target on shares of Royal Bank of Canada from C$124.00 to C$122.00 in a report on Friday. National Bankshares reduced their target price on Royal Bank of Canada from C$145.00 to C$142.00 in a research note on Thursday, May 18th. CSFB dropped their price target on Royal Bank of Canada from C$151.00 to C$149.00 in a research report on Tuesday, May 16th. National Bank Financial reduced their price objective on Royal Bank of Canada from C$145.00 to C$142.00 in a research report on Thursday, May 18th. Finally, Veritas Investment Research reiterated a “buy” rating on shares of Royal Bank of Canada in a research report on Monday, February 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and a consensus target price of C$142.05.

About Royal Bank of Canada

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Royal Bank of Canada operates as a diversified financial service company. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury, and Capital Markets. The Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions, as well as indirect lending, including auto financing; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.