Royal Bank of Canada (RY) Hits New 12-Month High at $101.72
Royal Bank of Canada (TSE:RY) (NYSE:RY)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as C$101.72 and last traded at C$101.55, with a volume of 1,031,200 shares trading hands. The stock had previously closed at C$101.23.
Several equities analysts have commented on the company. National Bank Financial dropped their target price on Royal Bank of Canada from C$101.00 to C$99.00 and set a “sector perform” rating for the company in a research report on Thursday, August 24th. BMO Capital Markets reiterated a “market perform” rating and issued a C$100.00 target price on shares of Royal Bank of Canada in a research report on Thursday, August 24th. Eight Capital increased their target price on Royal Bank of Canada from C$102.00 to C$105.00 in a research report on Friday, August 25th. Barclays PLC increased their target price on Royal Bank of Canada from C$94.20 to C$96.00 in a research report on Friday, August 25th. Finally, Scotiabank downgraded Royal Bank of Canada from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from C$102.00 to C$100.00 in a research report on Monday, August 21st. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Royal Bank of Canada currently has an average rating of “Hold” and a consensus price target of C$99.75.
The firm’s 50 day moving average is $95.39 and its 200 day moving average is $94.38. The company has a market capitalization of $147.81 billion and a P/E ratio of 13.85.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be issued a dividend of $0.91 per share. This represents a $3.64 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Wednesday, October 25th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.87.
In other Royal Bank of Canada news, insider Jennifer Anne Tory sold 359 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of C$94.31, for a total transaction of C$33,857.29. Also, Director David Ian Mckay sold 5,352 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of C$91.78, for a total value of C$491,206.56. In the last 90 days, insiders have sold 19,652 shares of company stock worth $1,826,711.
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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.
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