CIBC upgraded shares of Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) from a neutral rating to a buy rating in a research note issued to investors on Monday morning, MarketBeat.com reports. They currently have C$149.00 price objective on the financial services provider’s stock, down from their previous price objective of C$151.00.

RY has been the subject of several other research reports. Canaccord Genuity Group upped their price target on Royal Bank of Canada from C$148.00 to C$150.00 in a research note on Thursday, February 17th. TD Securities raised their target price on shares of Royal Bank of Canada from C$150.00 to C$165.00 in a research note on Tuesday, February 15th. Fundamental Research dropped their price target on shares of Royal Bank of Canada from C$152.07 to C$151.16 and set a buy rating on the stock in a research note on Monday, March 7th. National Bankshares increased their price target on shares of Royal Bank of Canada from C$140.00 to C$147.00 in a report on Wednesday, February 23rd. Finally, Barclays lifted their price objective on Royal Bank of Canada from C$141.00 to C$157.00 and gave the company an overweight rating in a report on Wednesday, January 19th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Buy and a consensus target price of C$147.44.

RY opened at C$136.40 on Monday. The business’s 50-day simple moving average is C$140.44 and its 200-day simple moving average is C$136.12. Royal Bank of Canada has a one year low of C$114.91 and a one year high of C$149.60. The stock has a market capitalization of C$193.23 billion and a P/E ratio of 12.14.

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) last released its quarterly earnings results on Thursday, February 24th. The financial services provider reported C$2.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of C$2.72 by C$0.15. The company had revenue of C$13.07 billion for the quarter. As a group, equities research analysts forecast that Royal Bank of Canada will post 11.9799998 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 24th. Investors of record on Monday, April 25th will be given a $1.20 dividend. The ex-dividend date is Friday, April 22nd. This represents a $4.80 annualized dividend and a dividend yield of 3.52%. Royal Bank of Canada’s dividend payout ratio is presently 39.50%.

In related news, Director David Ian Mckay sold 4,077 shares of Royal Bank of Canada stock in a transaction dated Monday, March 21st. The stock was sold at an average price of C$142.44, for a total transaction of C$580,711.16. Following the completion of the sale, the director now owns 5,873 shares in the company, valued at approximately C$836,526.04. Also, Senior Officer Helena Gottschling sold 404 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of C$141.65, for a total transaction of C$57,226.60. Following the completion of the transaction, the insider now owns 1,328 shares in the company, valued at C$188,111.20. Insiders have sold a total of 13,039 shares of company stock valued at $1,849,173 over the last 90 days.

About Royal Bank of Canada (Get Rating)

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.

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