BMO Capital Markets Trims Royal Bank of Canada (TSE:RY) Target Price to C$109.00

Royal Bank of Canada (TSE:RY) (NYSE:RY) had its target price cut by BMO Capital Markets from C$114.00 to C$109.00 in a report issued on Thursday, BayStreet.CA reports.

RY has been the subject of a number of other reports. CSFB set a C$109.00 price target on shares of Royal Bank of Canada and gave the company a neutral rating in a research report on Thursday, May 16th. CIBC reduced their price target on shares of Royal Bank of Canada from C$110.00 to C$109.00 in a research report on Thursday. Citigroup reduced their price target on shares of Royal Bank of Canada from C$125.00 to C$120.00 in a research report on Thursday, June 27th. Cormark reduced their price target on shares of Royal Bank of Canada from C$112.00 to C$111.00 in a research report on Thursday. Finally, National Bank Financial boosted their price target on shares of Royal Bank of Canada from C$110.00 to C$112.00 and gave the company an outperform rating in a research report on Friday, May 24th.

Shares of RY opened at C$97.60 on Thursday. Royal Bank of Canada has a 1-year low of C$90.10 and a 1-year high of C$107.91. The stock has a market cap of $139.97 billion and a PE ratio of 11.30. The firm has a fifty day moving average price of C$102.85 and a 200 day moving average price of C$103.48.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Thursday, May 23rd. The financial services provider reported C$2.23 earnings per share for the quarter, beating analysts’ consensus estimates of C$2.20 by C$0.03. The company had revenue of C$11.50 billion during the quarter, compared to analysts’ expectations of C$10.27 billion. On average, analysts anticipate that Royal Bank of Canada will post 9.5100004 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $0.12 dividend on an annualized basis and a yield of 0.12%. Royal Bank of Canada’s dividend payout ratio is presently 46.30%.

In other Royal Bank of Canada news, Director David Ian Mckay sold 8,258 shares of Royal Bank of Canada stock in a transaction on Friday, June 21st. The shares were sold at an average price of C$105.20, for a total value of C$868,731.69. Following the transaction, the director now directly owns 5,873 shares in the company, valued at C$617,832.55. Also, Senior Officer Alex Douglas Mcgregor sold 10,000 shares of Royal Bank of Canada stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of C$104.87, for a total transaction of C$1,048,680.00. Following the completion of the transaction, the insider now owns 54,675 shares in the company, valued at C$5,733,657.90. Over the last 90 days, insiders sold 45,656 shares of company stock worth $4,742,536.

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 check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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