Royal Bank of Canada (TSE:RY) Receives Consensus Rating of "Buy" from Brokerages

Shares of Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY have been given an average rating of "Buy" by the eleven analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and four have assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is C$181.00.

A number of analysts recently issued reports on the company. Jefferies Financial Group lowered their target price on Royal Bank of Canada from C$197.00 to C$192.00 in a research report on Tuesday, February 18th. Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Cormark dropped their price objective on Royal Bank of Canada from C$194.00 to C$189.00 in a research note on Friday, February 28th. UBS Group raised their target price on shares of Royal Bank of Canada from C$192.00 to C$198.00 in a research note on Friday, March 7th. Finally, CIBC raised shares of Royal Bank of Canada from a "neutral" rating to an "outperform" rating and upped their price target for the stock from C$167.00 to C$168.00 in a research report on Friday, April 4th.

Insiders Place Their Bets

In related news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total value of C$53,938.25. Also, Director David Ian Mckay sold 20,304 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of C$161.89, for a total value of C$3,287,014.56. Insiders have sold 61,836 shares of company stock worth $10,443,690 in the last three months.

Royal Bank of Canada Price Performance

Shares of RY traded up C$5.90 during midday trading on Friday, hitting C$160.39. The stock had a trading volume of 5,027,751 shares, compared to its average volume of 4,387,722. The firm has a market cap of C$226.95 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The company has a 50 day simple moving average of C$165.09 and a two-hundred day simple moving average of C$170.09. Royal Bank of Canada has a twelve month low of C$131.57 and a twelve month high of C$180.45.

Royal Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 23rd will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio is presently 49.49%.

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.