TD Securities Lowers Royal Bank of Canada (TSE:RY) Price Target to C$178.00

Royal Bank of Canada (TSE:RY - Free Report) NYSE: RY had its price objective decreased by TD Securities from C$180.00 to C$178.00 in a research report released on Friday morning,BayStreet.CA reports. TD Securities currently has a hold rating on the financial services provider's stock.

Several other research firms also recently weighed in on RY. Canaccord Genuity Group lifted their target price on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a research report on Thursday, December 5th. UBS Group lowered their price objective on shares of Royal Bank of Canada from C$200.00 to C$192.00 in a research report on Friday, February 14th. Jefferies Financial Group reduced their target price on Royal Bank of Canada from C$197.00 to C$192.00 in a report on Tuesday, February 18th. CIBC lowered their price target on Royal Bank of Canada from C$176.00 to C$175.00 in a report on Tuesday, February 18th. Finally, National Bankshares upped their price target on Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of C$181.83.

Royal Bank of Canada Stock Down 0.8 %

Shares of TSE RY traded down C$1.40 during mid-day trading on Friday, hitting C$169.58. 1,625,758 shares of the company traded hands, compared to its average volume of 4,497,135. Royal Bank of Canada has a 1 year low of C$131.30 and a 1 year high of C$180.45. The stock has a market capitalization of C$239.96 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 3.42 and a beta of 0.84. The business has a 50 day moving average of C$172.44 and a two-hundred day moving average of C$169.84.

Royal Bank of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 3.49%. Royal Bank of Canada's payout ratio is 49.49%.

Insider Buying and Selling

In other news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$53,938.25. Also, Senior Officer Douglas Antony Guzman sold 1,538 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total value of C$272,363.80. Following the completion of the sale, the insider now owns 25 shares of the company's stock, valued at approximately C$4,427.24. This trade represents a 98.40 % decrease in their ownership of the stock. Over the last quarter, insiders have sold 42,762 shares of company stock worth $7,379,177.

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.