Royal Bank of Canada (RY) Hits New 1-Year High at $99.90

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) reached a new 52-week high on Tuesday . The company traded as high as C$99.90 and last traded at C$99.79, with a volume of 998,480 shares. The stock had previously closed at C$99.28.

A number of research firms have recently weighed in on RY. Eight Capital boosted their target price on shares of Royal Bank of Canada from C$102.00 to C$105.00 in a report on Friday, August 25th. Barclays PLC boosted their target price on shares of Royal Bank of Canada from C$94.20 to C$96.00 in a report on Friday, August 25th. National Bank Financial reduced their target price on shares of Royal Bank of Canada from C$101.00 to C$99.00 and set a “sector perform” rating on the stock in a report on Thursday, August 24th. BMO Capital Markets restated a “market perform” rating and issued a C$100.00 target price on shares of Royal Bank of Canada in a report on Thursday, August 24th. Finally, Scotiabank downgraded shares of Royal Bank of Canada from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from C$102.00 to C$100.00 in a report on Monday, August 21st. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of C$99.75.

The stock has a market cap of $145.90 billion and a P/E ratio of 13.67. The company’s 50-day moving average is $94.88 and its 200 day moving average is $94.30.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be given a dividend of $0.91 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.87. This represents a $3.64 annualized dividend and a yield of 3.64%. The ex-dividend date is Wednesday, October 25th.

In other Royal Bank of Canada news, insider Alex Douglas Mcgregor sold 10,000 shares of Royal Bank of Canada stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of C$93.10, for a total transaction of C$931,000.00. Also, Director David Ian Mckay sold 5,352 shares of Royal Bank of Canada stock in a transaction dated Monday, July 24th. The shares were sold at an average price of C$93.65, for a total transaction of C$501,214.80. Over the last 90 days, insiders have sold 25,364 shares

A number of research firms have recently weighed in on RY. Eight Capital boosted their target price on shares of Royal Bank of Canada from C$102.00 to C$105.00 in a report on Friday, August 25th. Barclays PLC boosted their target price on shares of Royal Bank of Canada from C$94.20 to C$96.00 in a report on Friday, August 25th. National Bank Financial reduced their target price on shares of Royal Bank of Canada from C$101.00 to C$99.00 and set a “sector perform” rating on the stock in a report on Thursday, August 24th. BMO Capital Markets restated a “market perform” rating and issued a C$100.00 target price on shares of Royal Bank of Canada in a report on Thursday, August 24th. Finally, Scotiabank downgraded shares of Royal Bank of Canada from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from C$102.00 to C$100.00 in a report on Monday, August 21st. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of C$99.75.

The stock has a market cap of $145.90 billion and a P/E ratio of 13.67. The company’s 50-day moving average is $94.88 and its 200 day moving average is $94.30.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be given a dividend of $0.91 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.87. This represents a $3.64 annualized dividend and a yield of 3.64%. The ex-dividend date is Wednesday, October 25th.

In other Royal Bank of Canada news, insider Alex Douglas Mcgregor sold 10,000 shares of Royal Bank of Canada stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of C$93.10, for a total transaction of C$931,000.00. Also, Director David Ian Mckay sold 5,352 shares of Royal Bank of Canada stock in a transaction dated Monday, July 24th. The shares were sold at an average price of C$93.65, for a total transaction of C$501,214.80. Over the last 90 days, insiders have sold 25,364 shares of company stock valued at $2,361,633.

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About Royal Bank of Canada

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.

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