Royal Bank of Canada (TSE:RY) Announces Quarterly Dividend of $1.35

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) announced a quarterly dividend on Thursday, May 25th, RTT News reports. Shareholders of record on Wednesday, July 26th will be given a dividend of 1.35 per share by the financial services provider on Thursday, August 24th. This represents a $5.40 annualized dividend and a yield of 4.36%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.32.

Royal Bank of Canada Stock Down 1.7 %

RY opened at C$123.75 on Thursday. Royal Bank of Canada has a 52 week low of C$116.75 and a 52 week high of C$140.18. The company has a market capitalization of C$172.01 billion, a P/E ratio of 11.77, a PEG ratio of 4.62 and a beta of 0.74. The stock’s fifty day moving average is C$130.32 and its two-hundred day moving average is C$132.32.

Royal Bank of Canada (TSE:RY – Get Rating) (NYSE:RY) last released its quarterly earnings data on Wednesday, March 1st. The financial services provider reported C$3.05 earnings per share for the quarter, topping analysts’ consensus estimates of C$2.92 by C$0.13. Royal Bank of Canada had a net margin of 29.76% and a return on equity of 14.23%. The company had revenue of C$15.09 billion during the quarter, compared to analyst estimates of C$13.07 billion. Equities analysts anticipate that Royal Bank of Canada will post 11.5522252 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RY. National Bank Financial cut their price target on Royal Bank of Canada from C$145.00 to C$142.00 in a report on Thursday, May 18th. CSFB reduced their target price on shares of Royal Bank of Canada from C$151.00 to C$149.00 in a report on Tuesday, May 16th. Scotiabank lowered their price target on shares of Royal Bank of Canada from C$149.00 to C$146.00 in a report on Friday, February 17th. National Bankshares reduced their price objective on shares of Royal Bank of Canada from C$145.00 to C$142.00 in a research note on Thursday, May 18th. Finally, Credit Suisse Group lowered their target price on shares of Royal Bank of Canada from C$153.00 to C$151.00 in a research note on Thursday, March 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$142.20.

About Royal Bank of Canada

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Royal Bank of Canada operates as a diversified financial service company. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury, and Capital Markets. The Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions, as well as indirect lending, including auto financing; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.