Royal Bank of Canada (RY) Price Target Increased to C$113.00 by Analysts at CIBC
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.
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