CIBC Has Lowered Expectations for Royal Bank of Canada (TSE:RY) Stock Price

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its price target trimmed by CIBC from C$176.00 to C$175.00 in a research note issued to investors on Tuesday,BayStreet.CA reports.

Other equities analysts have also issued reports about the stock. Scotiabank boosted their target price on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. UBS Group decreased their price objective on Royal Bank of Canada from C$200.00 to C$192.00 in a report on Friday, February 14th. Canaccord Genuity Group raised their target price on Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. BMO Capital Markets decreased their price target on Royal Bank of Canada from C$195.00 to C$193.00 in a research note on Thursday, December 5th. Finally, Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Buy” and an average price target of C$180.50.

Royal Bank of Canada Stock Down 1.2 %

TSE RY opened at C$169.40 on Tuesday. The business’s fifty day simple moving average is C$173.09 and its 200-day simple moving average is C$168.83. The firm has a market cap of C$239.70 billion, a PE ratio of 14.76, a P/E/G ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 52 week low of C$130.44 and a 52 week high of C$180.45.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 24th will be given a $1.48 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s payout ratio is currently 49.49%.

Insider Transactions at Royal Bank of Canada

In related news, Director David Ian Mckay sold 20,304 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$3,555,721.76. Also, Senior Officer Douglas Antony Guzman sold 1,538 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of C$177.09, for a total value of C$272,363.80. Following the completion of the sale, the insider now directly owns 25 shares in the company, valued at C$4,427.24. This represents a 98.40 % decrease in their position. Over the last quarter, insiders have sold 22,150 shares of company stock valued at $3,882,024.

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.