Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective upped by CIBC from C$103.00 to C$113.00 in a research report sent to investors on Monday.

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity increased their target price 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 increased their target price on shares of Royal Bank of Canada from C$102.00 to C$105.00 in a research note on Friday, August 25th. Barclays PLC increased their price target on shares of Royal Bank of Canada from C$94.20 to C$96.00 in a research report on Friday, August 25th. BMO Capital Markets reissued a market perform rating and issued a C$100.00 price target on shares of Royal Bank of Canada in a research report on Thursday, August 24th. Finally, Scotiabank lowered shares of Royal Bank of Canada from an outperform rating to a sector perform rating and dropped their price target for the stock from C$102.00 to C$100.00 in a research report on Monday, August 21st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of C$100.83.

Shares of Royal Bank of Canada (TSE RY) opened at C$100.54 on Monday. Royal Bank of Canada has a one year low of C$85.90 and a one year high of C$102.15.

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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 given a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Wednesday, October 25th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.87. Royal Bank of Canada’s dividend payout ratio is 46.45%.

In other news, insider Jennifer Anne Tory sold 344 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of C$101.55, for a total transaction of C$34,933.20. Also, Director David Ian Mckay sold 5,352 shares of the firm’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 transaction of C$491,206.56. Insiders sold 25,348 shares of company stock valued at $2,405,033 in the last three months.

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.

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

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