Royal Bank of Canada (TSE:RY) Lowered to “Hold” Rating by TD Securities

TD Securities lowered shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) from a buy rating to a hold rating in a research note released on Friday, MarketBeat.com reports. They currently have C$180.00 price target on the financial services provider’s stock, up from their prior price target of C$178.00.

A number of other equities analysts have also recently weighed in on RY. Barclays upped their price target on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a research note on Tuesday, August 20th. Bank of America upped their price target on Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. CIBC lifted their price objective on Royal Bank of Canada from C$166.00 to C$167.00 in a report on Friday, September 6th. Canaccord Genuity Group raised their price target on Royal Bank of Canada from C$159.50 to C$172.00 in a research report on Thursday, August 29th. Finally, Jefferies Financial Group decreased their price objective on shares of Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of C$163.54.

Royal Bank of Canada Stock Down 0.5 %

Royal Bank of Canada stock traded down C$0.92 during mid-day trading on Friday, hitting C$171.13. The company had a trading volume of 4,504,100 shares, compared to its average volume of 4,882,674. The stock has a market cap of C$241.29 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 1 year low of C$115.57 and a 1 year high of C$175.04. The business has a fifty day moving average of C$169.28 and a 200 day moving average of C$155.43.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.95 by C$0.31. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. The firm had revenue of C$14.63 billion for the quarter, compared to analysts’ expectations of C$14.27 billion. Equities analysts anticipate that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 22nd will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s payout ratio is 50.31%.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Director David Ian Mckay sold 74,852 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 7,500 shares of Royal Bank of Canada stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of C$166.96, for a total value of C$1,252,207.50. Following the completion of the transaction, the insider now owns 25 shares of the company’s stock, valued at approximately C$4,174.03. The trade was a 99.67 % decrease in their position. Insiders sold a total of 144,770 shares of company stock worth $23,959,265 in the last 90 days.

About Royal Bank of Canada

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.