Royal Bank of Canada (TSE:RY) Stock Rating Lowered by TD Securities

TD Securities downgraded shares of Royal Bank of Canada (TSE:RY - Free Report) NYSE: RY from a buy rating to a hold rating in a research note issued to investors on Friday morning, MarketBeat Ratings reports. They currently have C$180.00 target price on the financial services provider's stock, up from their prior target price of C$178.00.

Several other brokerages have also issued reports on RY. CIBC boosted their price target on shares of Royal Bank of Canada from C$166.00 to C$167.00 in a report on Friday, September 6th. National Bankshares increased their price target on Royal Bank of Canada from C$160.00 to C$169.00 in a report on Thursday, August 29th. Cormark lifted their price objective on Royal Bank of Canada from C$166.00 to C$171.00 in a report on Thursday, August 29th. Barclays increased their target price on Royal Bank of Canada from C$145.00 to C$150.00 in a research note on Tuesday, August 20th. Finally, Canaccord Genuity Group lifted their price target on Royal Bank of Canada from C$159.50 to C$172.00 in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of C$163.54.

Royal Bank of Canada Stock Down 0.5 %

RY stock traded down C$0.92 during midday trading on Friday, hitting C$171.13. 4,504,100 shares of the company traded hands, compared to its average volume of 4,882,674. The business has a 50 day simple moving average of C$169.28 and a 200-day simple moving average of C$155.43. Royal Bank of Canada has a twelve month low of C$115.57 and a twelve month high of C$175.04. The stock has a market capitalization of C$241.29 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.95 by C$0.31. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. The firm had revenue of C$14.63 billion for the quarter, compared to analyst estimates of C$14.27 billion. Equities research analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 22nd will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada's payout ratio is currently 50.31%.

Insiders Place Their Bets

In other Royal Bank of Canada news, Director David Ian Mckay sold 74,852 shares of the business's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total value of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 17,000 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of C$167.95, for a total value of C$2,855,150.00. Following the completion of the sale, the insider now directly owns 25 shares in the company, valued at approximately C$4,198.75. This represents a 99.85 % decrease in their ownership of the stock. In the last quarter, insiders have sold 144,770 shares of company stock worth $23,959,265.

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 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.