Royal Bank Of Canada (NYSE:RY) Sets New 1-Year High – What’s Next?

Royal Bank Of Canada (NYSE:RY) (TSE:RY)’s share price reached a new 52-week high on Friday . The company traded as high as $180.90 and last traded at $180.6620, with a volume of 114978 shares traded. The stock had previously closed at $179.97.

Wall Street Analyst Weigh In

A number of brokerages have commented on RY. Zacks Research cut Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Bank Of Canada in a research report on Thursday, January 22nd. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, January 9th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, February 13th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $162.00.

Royal Bank Of Canada Trading Down 0.1%

The company has a 50 day moving average of $168.19 and a two-hundred day moving average of $163.22. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $251.36 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 1.32 and a beta of 0.78.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, topping the consensus estimate of $2.81 by $0.13. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The company had revenue of $13.18 billion during the quarter, compared to analyst estimates of $12.60 billion. During the same period in the previous year, the business earned $3.62 EPS. Royal Bank Of Canada’s quarterly revenue was up 4.4% on a year-over-year basis. Sell-side analysts anticipate that Royal Bank Of Canada will post 11.56 earnings per share for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be paid a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.6%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada’s payout ratio is 45.17%.

Institutional Investors Weigh In On Royal Bank Of Canada

Several large investors have recently bought and sold shares of RY. Truist Financial Corp lifted its stake in Royal Bank Of Canada by 10.6% during the third quarter. Truist Financial Corp now owns 101,173 shares of the financial services provider’s stock worth $14,905,000 after purchasing an additional 9,677 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Royal Bank Of Canada by 2.2% during the third quarter. Envestnet Asset Management Inc. now owns 344,993 shares of the financial services provider’s stock worth $50,824,000 after purchasing an additional 7,278 shares in the last quarter. Legal & General Group Plc lifted its stake in Royal Bank Of Canada by 3.6% during the third quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider’s stock worth $1,219,924,000 after purchasing an additional 287,504 shares in the last quarter. Caprock Group LLC acquired a new position in Royal Bank Of Canada during the third quarter worth $1,463,000. Finally, Fiera Capital Corp lifted its stake in Royal Bank Of Canada by 2.1% during the third quarter. Fiera Capital Corp now owns 4,854,424 shares of the financial services provider’s stock worth $715,227,000 after purchasing an additional 99,966 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.