Royal Bank of Canada (TSE:RY) Stock Price Expected to Rise, National Bankshares Analyst Says

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target upped by National Bankshares from C$169.00 to C$181.00 in a report released on Wednesday,BayStreet.CA reports.

RY has been the subject of a number of other research reports. Jefferies Financial Group dropped their price objective on shares of Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating for the company in a report on Monday, August 12th. Scotiabank dropped their price objective on shares of Royal Bank of Canada from C$157.00 to C$154.00 in a report on Monday, August 19th. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price objective for the stock from C$178.00 to C$180.00 in a research report on Friday, November 15th. Barclays boosted their target price on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a research note on Tuesday, August 20th. Finally, Bank of America raised their target price on Royal Bank of Canada from C$162.00 to C$180.00 in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of C$168.00.

Royal Bank of Canada Price Performance

Shares of TSE:RY opened at C$170.30 on Wednesday. Royal Bank of Canada has a 1 year low of C$115.57 and a 1 year high of C$175.04. The firm has a market capitalization of C$240.12 billion, a PE ratio of 15.08, a P/E/G ratio of 3.42 and a beta of 0.84. The business’s 50 day moving average price is C$169.69 and its 200-day moving average price is C$156.22.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of C$2.95 by C$0.31. The company had revenue of C$14.63 billion for the quarter, compared to analysts’ expectations of C$14.27 billion. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. As a group, analysts expect that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 22nd will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.31%.

Insider Buying and Selling at Royal Bank of Canada

In other news, Senior Officer Douglas Antony Guzman sold 7,500 shares of Royal Bank of Canada stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of C$166.96, for a total transaction of C$1,252,207.50. Following the completion of the sale, the insider now directly owns 25 shares in the company, valued at approximately C$4,174.03. This trade represents a 99.67 % decrease in their position. Also, Director David Ian Mckay sold 74,852 shares of the business’s stock in a transaction that occurred 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. Over the last quarter, insiders sold 144,770 shares of company stock valued at $23,959,265.

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.