Royal Bank of Canada (TSE:RY) (NYSE:RY) declared a quarterly dividend on Thursday, May 24th, RTT News reports. Investors of record on Thursday, July 26th will be given a dividend of 0.94 per share by the financial services provider on Friday, August 24th. This represents a $3.76 annualized dividend and a yield of 3.72%.
Royal Bank of Canada stock opened at C$101.12 on Thursday. Royal Bank of Canada has a one year low of C$90.13 and a one year high of C$108.52.
Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings results on Friday, February 23rd. The financial services provider reported C$2.17 EPS for the quarter, topping the consensus estimate of C$1.97 by C$0.20. The firm had revenue of C$10.83 billion for the quarter, compared to analyst estimates of C$9.82 billion. Royal Bank of Canada had a return on equity of 16.49% and a net margin of 26.17%.
In related news, Director David Ian Mckay sold 10,282 shares of the company’s stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of C$102.31, for a total transaction of C$1,051,951.42. Also, insider Alex Douglas Mcgregor sold 10,000 shares of the company’s stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of C$102.63, for a total value of C$1,026,300.00. Over the last quarter, insiders bought 900 shares of company stock valued at $69,558 and sold 38,078 shares valued at $3,860,120.
Several research firms recently commented on RY. CIBC lowered Royal Bank of Canada from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from C$113.00 to C$114.00 in a research report on Thursday, February 1st. National Bank Financial upped their target price on Royal Bank of Canada from C$107.00 to C$109.00 and gave the company a “sector perform” rating in a research report on Monday, February 26th. BMO Capital Markets reaffirmed a “market perform” rating and issued a C$106.00 target price on shares of Royal Bank of Canada in a research report on Monday, February 26th. Barclays upped their target price on Royal Bank of Canada from C$100.00 to C$103.00 in a research report on Monday, February 26th. Finally, Canaccord Genuity upped their target price on Royal Bank of Canada from C$107.00 to C$109.00 in a research report on Monday, February 26th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of C$110.80.
Royal Bank of Canada Company Profile
Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.
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