Royal Bank of Canada (TSE:RY) Price Target Raised to C$150.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target lifted by CIBC from C$135.00 to C$150.00 in a report published on Friday, BayStreet.CA reports. CIBC currently has a neutral rating on the financial services provider’s stock.

Several other equities research analysts also recently weighed in on the company. Scotiabank increased their price target on Royal Bank of Canada from C$143.00 to C$148.00 and gave the stock an outperform rating in a research report on Friday, May 17th. Jefferies Financial Group raised shares of Royal Bank of Canada from a hold rating to a buy rating and increased their target price for the stock from C$136.00 to C$157.00 in a research note on Monday, May 13th. National Bankshares raised their price target on shares of Royal Bank of Canada from C$148.00 to C$154.00 and gave the company an outperform rating in a research note on Friday, May 17th. TD Securities raised their price target on shares of Royal Bank of Canada from C$156.00 to C$160.00 and gave the company a buy rating in a research note on Friday. Finally, BMO Capital Markets raised shares of Royal Bank of Canada from a market perform rating to an outperform rating and raised their price target for the company from C$140.00 to C$150.00 in a research note on Friday, April 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada currently has a consensus rating of Moderate Buy and a consensus target price of C$143.38.

Royal Bank of Canada Stock Performance

Shares of RY opened at C$148.08 on Friday. The business’s 50-day moving average is C$139.00 and its two-hundred day moving average is C$133.62. The company has a market capitalization of C$208.79 billion, a P/E ratio of 13.83, a P/E/G ratio of 10.64 and a beta of 0.83. Royal Bank of Canada has a fifty-two week low of C$107.92 and a fifty-two week high of C$149.24.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be given a dividend of $1.42 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.38. This represents a $5.68 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Thursday, July 25th. Royal Bank of Canada’s payout ratio is 51.54%.

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.