Scotiabank Boosts Royal Bank of Canada (TSE:RY) Price Target to C$111.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target hoisted by Scotiabank from C$110.00 to C$111.00 in a research report released on Thursday, November 30th. Scotiabank currently has a sector perform rating on the financial services provider’s stock.

A number of other equities analysts have also weighed in on the stock. CIBC lifted their price objective on shares of Royal Bank of Canada from C$103.00 to C$113.00 in a research report on Monday, November 13th. Canaccord Genuity lifted their price objective on shares of Royal Bank of Canada from C$100.00 to C$105.00 in a research report on Wednesday, November 1st. Eight Capital boosted their target price on shares of Royal Bank of Canada from C$102.00 to C$105.00 in a research report on Friday, August 25th. Barclays boosted their price objective on shares of Royal Bank of Canada from C$94.20 to C$96.00 in a research report on Friday, August 25th. Finally, Desjardins boosted their price objective on shares of Royal Bank of Canada from C$108.00 to C$109.00 in a research report on Thursday, November 30th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. Royal Bank of Canada presently has an average rating of Hold and an average price target of C$106.31.

Shares of Royal Bank of Canada (TSE RY) opened at C$102.05 on Thursday. Royal Bank of Canada has a 1-year low of C$90.13 and a 1-year high of C$102.59.

The company also recently declared 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. This represents a $3.64 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Wednesday, January 24th. Royal Bank of Canada’s dividend payout ratio is currently 46.03%.

In other news, insider Alex Douglas Mcgregor sold 10,000 shares of the firm’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. Also, Director Thierry Vandal purchased 729 shares of the stock in a transaction dated 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. Over the last three months, insiders have sold 32,731 shares of company stock worth $3,209,901.

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Royal Bank of Canada Company Profile

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury Services, and Capital Markets. The Personal & Commercial Banking segment engages in the personal and business banking operations, auto financing, and retail investment businesses.

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

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