National Bankshares Issues Positive Forecast for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price objective increased by National Bankshares from C$169.00 to C$181.00 in a report released on Wednesday morning,BayStreet.CA reports.

Several other equities analysts also recently commented on RY. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their price target for the company from C$178.00 to C$180.00 in a report on Friday, November 15th. Scotiabank decreased their price target on Royal Bank of Canada from C$157.00 to C$154.00 in a research note on Monday, August 19th. Jefferies Financial Group cut their price objective on 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. CIBC boosted their target price on shares of Royal Bank of Canada from C$166.00 to C$167.00 in a research note on Friday, September 6th. Finally, Canaccord Genuity Group raised their price target on shares of Royal Bank of Canada from C$172.00 to C$188.00 in a research note on Tuesday. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$168.00.

Royal Bank of Canada Trading Down 0.8 %

Shares of TSE:RY opened at C$170.30 on Wednesday. The company has a market cap of C$240.12 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 12 month low of C$115.57 and a 12 month high of C$175.04. The company has a 50-day moving average price of C$169.69 and a 200 day moving average price of C$156.22.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings data 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. The business had revenue of C$14.63 billion during the quarter, compared to analyst estimates of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. As a group, equities analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 22nd will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 3.34%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s payout ratio is 50.31%.

Insider Buying and Selling

In related news, Director David Ian Mckay sold 74,852 shares of the business’s stock in a transaction 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 the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of C$166.96, for a total value of C$1,252,207.50. Following the completion of the sale, the insider now owns 25 shares of the company’s stock, valued at approximately C$4,174.03. This trade represents a 99.67 % decrease in their ownership of the stock. Insiders sold 144,770 shares of company stock worth $23,959,265 in the last three months.

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.