Royal Bank of Canada (TSE:RY) Reaches New 12-Month High – What’s Next?

Royal Bank of Canada (TSE:RY) (NYSE:RY) shares hit a new 52-week high during trading on Thursday . The company traded as high as C$176.27 and last traded at C$175.69, with a volume of 129360 shares trading hands. The stock had previously closed at C$175.77.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RY shares. Desjardins lifted their price target on Royal Bank of Canada from C$156.00 to C$163.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. National Bankshares increased their target price on shares of Royal Bank of Canada from C$169.00 to C$181.00 in a research note on Wednesday, November 20th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and lifted their price target for the stock from C$178.00 to C$180.00 in a research report on Friday, November 15th. Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Finally, CIBC lifted their target price on Royal Bank of Canada from C$167.00 to C$176.00 in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of C$175.92.

Royal Bank of Canada Stock Down 0.0 %

The firm has a market capitalization of C$247.77 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The business’s 50-day moving average price is C$170.42 and its 200-day moving average price is C$157.50.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.95 by C$0.31. The business had revenue of C$14.63 billion for the quarter, compared to the consensus estimate of C$14.27 billion. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. On average, analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 22nd were paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date was Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.31%.

Insider Buying and Selling

In other news, Director David Ian Mckay sold 74,852 shares of the company’s stock in a transaction that occurred 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. Also, Senior Officer Douglas Antony Guzman sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of C$164.60, for a total value of C$1,646,000.00. Following the completion of the sale, the insider now directly owns 25 shares of the company’s stock, valued at C$4,115. This represents a 99.75 % decrease in their ownership of the stock. Over the last quarter, insiders have sold 144,770 shares of company stock worth $23,959,265.

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.