Royal Bank of Canada (RY) Price Target Raised to C$84.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target raised by Barclays PLC from C$77.00 to C$84.00 in a report released on Monday.

Other research analysts have also recently issued research reports about the company. BMO Capital Markets increased their price objective on Royal Bank of Canada from C$85.00 to C$92.00 in a research note on Thursday, December 1st. Desjardins increased their price objective on Royal Bank of Canada from C$92.00 to C$94.00 in a research note on Wednesday, December 21st. Scotiabank dropped their price objective on Royal Bank of Canada from C$95.00 to C$93.00 and set an outperform rating on the stock in a research note on Thursday, December 1st. Keefe, Bruyette & Woods increased their target price on Royal Bank of Canada from C$74.00 to C$83.00 in a research report on Thursday, December 1st. Finally, TD Securities reaffirmed a buy rating and set a C$96.00 target price on shares of Royal Bank of Canada in a research report on Thursday, December 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of C$90.50.

Shares of Royal Bank of Canada (TSE:RY) traded up 0.43% during trading on Monday, hitting $97.26. The company had a trading volume of 1,349,987 shares. The stock has a market capitalization of $144.46 billion and a P/E ratio of 14.35. The firm’s 50 day moving average is $93.64 and its 200-day moving average is $86.11. Royal Bank of Canada has a 52 week low of $65.55 and a 52 week high of $97.73.

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The company also recently announced a quarterly dividend, which will be paid on Friday, February 24th. Investors of record on Thursday, January 26th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Tuesday, January 24th. This represents a $3.32 dividend on an annualized basis and a yield of 3.43%.

In related news, insider Jennifer Anne Tory sold 359 shares of the firm’s stock in a transaction on Monday, January 23rd. The stock was sold at an average price of C$94.00, for a total value of C$33,746.00. Also, insider Alex Douglas Mcgregor sold 17,583 shares of the firm’s stock in a transaction on Wednesday, December 7th. The stock was sold at an average price of C$88.00, for a total value of C$1,547,304.00. Insiders sold a total of 21,520 shares of company stock valued at $1,917,418 in the last 90 days.

About Royal Bank of Canada

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

This story was originally published by sleekmoney (http://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at http://sleekmoney.com/royal-bank-of-canada-ry-price-target-raised-to-c84-00/1658611.html

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