Royal Bank of Canada (TSE:RY) Reaches New 52-Week High – Time to Buy?

Royal Bank of Canada (TSE:RY) (NYSE:RY) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as C$175.05 and last traded at C$174.73, with a volume of 66227 shares. The stock had previously closed at C$174.76.

Analyst Ratings Changes

Several research firms have recently commented on RY. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their price objective for the stock from C$178.00 to C$180.00 in a research note on Friday, November 15th. Cormark lifted their price objective on Royal Bank of Canada from C$166.00 to C$171.00 in a research report on Thursday, August 29th. Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Scotiabank decreased their target price on shares of Royal Bank of Canada from C$157.00 to C$154.00 in a research note on Monday, August 19th. Finally, National Bankshares upped their price target on shares of Royal Bank of Canada from C$169.00 to C$181.00 in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of C$171.58.

Royal Bank of Canada Trading Down 0.0 %

The firm has a market cap of C$246.34 billion, a PE ratio of 15.47, a PEG ratio of 3.42 and a beta of 0.84. The firm’s 50 day simple moving average is C$170.00 and its 200 day simple moving average is C$156.75.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, beating analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. The company had revenue of C$14.63 billion during the quarter, compared to analyst estimates of C$14.27 billion. As a group, equities research analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 22nd were given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.25%. The ex-dividend date was Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is presently 50.31%.

Insider Buying and Selling at Royal Bank of Canada

In related news, Senior Officer Douglas Antony Guzman sold 10,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.60, for a total transaction of C$1,646,000.00. Following the sale, the insider now owns 25 shares in the company, valued at approximately C$4,115. This represents a 99.75 % decrease in their position. Also, Director David Ian Mckay sold 74,852 shares of Royal Bank of Canada stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Insiders sold 144,770 shares of company stock worth $23,959,265 over the last 90 days.

Royal Bank of Canada Company Profile

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.