Royal Bank of Canada (TSE:RY) Price Target Lowered to C$175.00 at CIBC

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective decreased by CIBC from C$176.00 to C$175.00 in a research note published on Tuesday,BayStreet.CA reports.

Several other research firms also recently issued reports on RY. Canaccord Genuity Group lifted their price target on Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. Jefferies Financial Group reduced their price target on Royal Bank of Canada from C$197.00 to C$192.00 in a report on Tuesday. Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Scotiabank lifted their price target on Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. Finally, TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price objective for the stock from C$178.00 to C$180.00 in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of C$181.00.

Royal Bank of Canada Trading Up 1.7 %

Shares of Royal Bank of Canada stock opened at C$171.54 on Tuesday. The company has a market capitalization of C$242.73 billion, a PE ratio of 14.95, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 12 month low of C$130.44 and a 12 month high of C$180.45. The stock’s fifty day simple moving average is C$173.56 and its 200 day simple moving average is C$168.47.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 24th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.45%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.42. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s payout ratio is presently 49.49%.

Insider Activity

In other Royal Bank of Canada news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total transaction of C$53,938.25. Also, Director David Ian Mckay sold 20,304 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total transaction of C$3,555,721.76. Over the last ninety days, insiders sold 22,150 shares of company stock worth $3,882,024.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.