Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price decreased by CIBC from C$110.00 to C$109.00 in a report issued on Thursday morning, BayStreet.CA reports.

Other equities analysts also recently issued reports about the company. Desjardins raised their price target on Royal Bank of Canada from C$108.00 to C$111.00 in a research note on Tuesday, May 14th. Citigroup lowered their target price on Royal Bank of Canada from C$125.00 to C$120.00 in a research report on Thursday, June 27th. National Bank Financial lifted their target price on Royal Bank of Canada from C$110.00 to C$112.00 and gave the company an outperform rating in a research report on Friday, May 24th. Eight Capital lowered their target price on Royal Bank of Canada from C$121.00 to C$114.00 in a research report on Wednesday, August 14th. Finally, Canaccord Genuity lowered their target price on Royal Bank of Canada from C$108.00 to C$105.00 in a research report on Wednesday, May 15th.

RY stock opened at C$97.60 on Thursday. The company has a market cap of $139.97 billion and a P/E ratio of 11.30. Royal Bank of Canada has a 1 year low of C$90.10 and a 1 year high of C$107.91. The stock’s fifty day moving average price is C$102.85 and its 200-day moving average price is C$103.48.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Thursday, May 23rd. The financial services provider reported C$2.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$2.20 by C$0.03. The firm had revenue of C$11.50 billion during the quarter, compared to analysts’ expectations of C$10.27 billion. Sell-side analysts expect that Royal Bank of Canada will post 9.5100004 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $0.12 annualized dividend and a yield of 0.12%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 46.30%.

In related news, Senior Officer Alex Douglas Mcgregor sold 10,000 shares of Royal Bank of Canada stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of C$104.87, for a total transaction of C$1,048,680.00. Following the transaction, the insider now directly owns 54,675 shares in the company, valued at C$5,733,657.90. Also, Director David Ian Mckay sold 8,258 shares of Royal Bank of Canada stock in a transaction on Friday, June 21st. The shares were sold at an average price of C$105.20, for a total value of C$868,731.69. Following the transaction, the director now owns 5,873 shares in the company, valued at C$617,832.55. Insiders have sold 45,656 shares of company stock worth $4,742,536 over the last quarter.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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