Jefferies Financial Group Has Lowered Expectations for Royal Bank of Canada (TSE:RY) Stock Price
Other research analysts also recently issued reports about the stock. Barclays raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. National Bankshares boosted their price objective on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and increased their target price for the stock from C$178.00 to C$180.00 in a report on Friday, November 15th. CIBC boosted their price target on Royal Bank of Canada from C$167.00 to C$176.00 in a report on Tuesday, November 26th. Finally, Scotiabank increased their price objective on Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of C$180.50.
View Our Latest Stock Analysis on RY
Shares of RY stock opened at C$169.40 on Tuesday. The business has a 50-day moving average of C$173.09 and a 200 day moving average of C$168.83. Royal Bank of Canada has a 1-year low of C$130.44 and a 1-year high of C$180.45. The stock has a market capitalization of C$239.70 billion, a PE ratio of 14.76, a P/E/G ratio of 3.42 and a beta of 0.84.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 24th will be issued a $1.48 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Monday, January 27th. This represents a $5.92 dividend on an annualized basis and a yield of 3.49%. Royal Bank of Canada’s dividend payout ratio is 49.49%.
In other Royal Bank of Canada news, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction on 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, Director David Ian Mckay sold 20,304 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total value of C$3,555,721.76. Over the last 90 days, insiders sold 22,150 shares of company stock valued at $3,882,024.
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.
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