Royal Bank of Canada (RY) Price Target Raised to C$113.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price increased by CIBC from C$103.00 to C$113.00 in a research note released on Monday morning.

A number of other research analysts have also weighed in on the stock. Barclays PLC lifted their price target on shares of Royal Bank of Canada from C$94.20 to C$96.00 in a research note on Friday, August 25th. Canaccord Genuity lifted their price target on shares of Royal Bank of Canada from C$100.00 to C$105.00 in a research note on Wednesday, November 1st. Eight Capital lifted their price target on shares of Royal Bank of Canada from C$102.00 to C$105.00 in a research note on Friday, August 25th. National Bank Financial cut their price target 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 research note on Thursday, August 24th. Finally, BMO Capital Markets reaffirmed a market perform rating and issued a C$100.00 price target on shares of Royal Bank of Canada in a research note on Thursday, August 24th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Royal Bank of Canada currently has a consensus rating of Hold and a consensus price target of C$100.83.

Shares of Royal Bank of Canada (RY) traded up C$0.61 on Monday, reaching C$100.53. 809,289 shares of the company’s stock were exchanged, compared to its average volume of 2,668,452. Royal Bank of Canada has a 1 year low of C$85.54 and a 1 year high of C$102.15.

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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Thursday, October 26th will be issued a $0.91 dividend. The ex-dividend date of this dividend is Wednesday, October 25th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.87. This represents a $3.64 dividend on an annualized basis and a dividend yield of 3.62%. Royal Bank of Canada’s dividend payout ratio (DPR) is 46.45%.

In other news, Director Thierry Vandal bought 729 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average cost of C$91.91 per share, for a total transaction of C$67,002.39. Also, insider Alex Douglas Mcgregor sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of C$93.10, for a total transaction of C$931,000.00. Insiders sold 25,348 shares of company stock worth $2,405,033 over the last quarter.

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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