Royal Bank of Canada (RY) Price Target Raised to C$114.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective raised by CSFB from C$108.00 to C$114.00 in a research report sent to investors on Friday morning.

Other research analysts also recently issued research reports about the company. Eight Capital lifted their price target on Royal Bank of Canada from C$105.00 to C$107.00 in a report on Thursday, November 30th. Canaccord Genuity lifted their price target on Royal Bank of Canada from C$100.00 to C$105.00 in a report on Wednesday, November 1st. National Bank Financial lifted their price target on Royal Bank of Canada from C$101.00 to C$105.00 and gave the company a sector perform rating in a report on Thursday, November 30th. Citigroup lifted their price target on Royal Bank of Canada from C$118.00 to C$120.00 in a report on Tuesday, December 12th. Finally, Scotiabank lifted their price target on Royal Bank of Canada from C$110.00 to C$111.00 and gave the company a sector perform rating in a report on Thursday, November 30th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Royal Bank of Canada has an average rating of Hold and a consensus target price of C$108.08.

Royal Bank of Canada (TSE RY) opened at C$108.05 on Friday. The stock has a market capitalization of $157,790.00, a price-to-earnings ratio of 14.29 and a beta of 0.72. Royal Bank of Canada has a 1-year low of C$90.13 and a 1-year high of C$108.52.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its earnings results on Wednesday, November 29th. The financial services provider reported C$1.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$1.88 by C$0.04. Royal Bank of Canada had a return on equity of 16.63% and a net margin of 26.20%.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Thursday, January 25th will be given a dividend of $0.91 per share. The ex-dividend date is Wednesday, January 24th. This represents a $3.64 dividend on an annualized basis and a yield of 3.37%. Royal Bank of Canada’s payout ratio is 46.03%.

In related news, Director Jeffery William Yabuki purchased 1,000 shares of Royal Bank of Canada stock in a transaction on Tuesday, December 5th. The stock was bought at an average price of C$79.63 per share, with a total value of C$79,630.00. Also, insider Alex Douglas Mcgregor sold 7,403 shares of the business’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of C$101.73, for a total value of C$753,107.19. In the last three months, insiders have sold 13,099 shares of company stock valued at $1,329,482.

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Royal Bank of Canada Company Profile

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

Analyst Recommendations for Royal Bank of Canada (TSE:RY)

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