Royal Bank of Canada (TSE:RY) Price Target Lowered to C$189.00 at Cormark

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price trimmed by Cormark from C$194.00 to C$189.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

A number of other research firms also recently weighed in on RY. Scotiabank reduced their target price on Royal Bank of Canada from C$197.00 to C$191.00 and set an “outperform” rating on the stock in a report on Thursday, February 20th. TD Securities reduced their target price on Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating on the stock in a report on Friday. Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. National Bankshares boosted their price target on Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. Finally, BMO Capital Markets dropped their price target on Royal Bank of Canada from C$195.00 to C$193.00 in a research report on Thursday, December 5th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of C$181.83.

Royal Bank of Canada Stock Performance

RY stock opened at C$170.98 on Friday. Royal Bank of Canada has a fifty-two week low of C$130.44 and a fifty-two week high of C$180.45. The business’s 50 day moving average price is C$172.44 and its two-hundred day moving average price is C$169.70. The company has a market capitalization of C$241.94 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a $1.48 dividend. This represents a $5.92 annualized dividend and a yield of 3.46%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 49.49%.

Insider Activity at Royal Bank of Canada

In other news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total transaction of C$272,363.80. Following the transaction, the insider now directly owns 25 shares of the company’s stock, valued at C$4,427.24. This represents a 98.40 % decrease in their position. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total value of C$53,938.25. In the last three months, insiders have sold 42,762 shares of company stock valued at $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.