Brokerages Set Royal Bank of Canada (TSE:RY) Price Target at C$176.58

Shares of Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY have received an average rating of "Buy" from the eleven research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, six have issued a buy rating and three have issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is C$176.58.

RY has been the subject of several research reports. BMO Capital Markets dropped their price objective on shares of Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. Canaccord Genuity Group increased their price target on Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. CIBC raised their price target on Royal Bank of Canada from C$167.00 to C$176.00 in a report on Tuesday, November 26th. National Bankshares upped their price objective on Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. Finally, Barclays raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 21st.

Royal Bank of Canada Trading Down 0.3 %

Royal Bank of Canada stock traded down C$0.49 during mid-day trading on Monday, hitting C$173.79. The stock had a trading volume of 3,348,286 shares, compared to its average volume of 3,822,137. Royal Bank of Canada has a one year low of C$127.60 and a one year high of C$180.45. The firm has a market capitalization of C$245.04 billion, a P/E ratio of 15.39, a P/E/G ratio of 3.42 and a beta of 0.84. The firm's 50 day moving average is C$174.15 and its 200 day moving average is C$165.32.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 24th will be issued a $1.48 dividend. The ex-dividend date of this dividend is Monday, January 27th. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.41%. Royal Bank of Canada's dividend payout ratio (DPR) is currently 50.31%.

Insider Activity

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of C$177.09, for a total transaction of C$272,363.80. Following the sale, the insider now owns 25 shares of the company's stock, valued at approximately C$4,427.24. The trade was a 98.40 % decrease in their position.

About Royal Bank of Canada

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