Royal Bank of Canada (TSE:RY) Price Target Cut to C$178.00 by Analysts at TD Securities

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target decreased by TD Securities from C$180.00 to C$178.00 in a report published on Friday,BayStreet.CA reports. TD Securities currently has a hold rating on the financial services provider’s stock.

RY has been the topic of a number of other research reports. National Bankshares raised their price objective on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research note on Thursday, December 5th. CIBC lowered their price objective on shares of Royal Bank of Canada from C$176.00 to C$175.00 in a research note on Tuesday, February 18th. Barclays upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. UBS Group reduced their target price on shares of Royal Bank of Canada from C$200.00 to C$192.00 in a report on Friday, February 14th. Finally, Canaccord Genuity Group raised their price objective on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Royal Bank of Canada currently has an average rating of “Buy” and an average target price of C$181.83.

Royal Bank of Canada Trading Up 2.7 %

Shares of TSE:RY opened at C$170.98 on Friday. The firm’s 50 day moving average is C$172.44 and its two-hundred day moving average is C$169.70. Royal Bank of Canada has a 52 week low of C$130.44 and a 52 week high of C$180.45. The firm has a market capitalization of C$241.94 billion, a P/E ratio of 14.90, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.46%. Royal Bank of Canada’s dividend payout ratio is currently 49.49%.

Insider Activity

In related news, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction on Monday, February 24th. The shares were sold at an average price of C$169.67, for a total value of C$52,257.10. Also, Director David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$3,555,721.76. In the last 90 days, insiders have sold 42,762 shares of company stock worth $7,379,177.

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.