Royal Bank of Canada (TSE:RY) Declares Quarterly Dividend of $1.48

Royal Bank of Canada (TSE:RY) (NYSE:RY) announced a quarterly dividend on Thursday, February 27th, RTT News reports. Stockholders of record on Thursday, April 24th will be given a dividend of 1.48 per share by the financial services provider on Friday, May 23rd. This represents a $5.92 annualized dividend and a dividend yield of 3.46%.

Royal Bank of Canada Trading Up 2.7 %

RY opened at C$170.98 on Friday. Royal Bank of Canada has a 1-year low of C$130.44 and a 1-year high of C$180.45. The stock has a market capitalization of C$241.94 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 3.42 and a beta of 0.84. The business has a 50 day moving average of C$172.44 and a 200-day moving average of C$169.70.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. CIBC reduced their target price on Royal Bank of Canada from C$176.00 to C$175.00 in a research report on Tuesday, February 18th. National Bankshares raised their target price on Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. BMO Capital Markets reduced their target price on Royal Bank of Canada from C$195.00 to C$193.00 in a research report on Thursday, December 5th. Finally, TD Securities reduced their target price on Royal Bank of Canada from C$180.00 to C$178.00 and set a “hold” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$181.83.

Insider Buying and Selling at Royal Bank of Canada

In other news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total value of C$53,938.25. Also, Director David Ian Mckay sold 20,304 shares of the firm’s 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$3,555,721.76. Over the last three months, insiders 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.