Royal Bank Of Canada (NYSE:RY) Receives Average Rating of “Moderate Buy” from Analysts

Royal Bank Of Canada (NYSE:RY) (TSE:RY) has been assigned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $162.00.

Several research firms have weighed in on RY. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday. Zacks Research lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday.

Royal Bank Of Canada Price Performance

RY opened at $189.92 on Wednesday. Royal Bank Of Canada has a one year low of $124.19 and a one year high of $191.51. The stock has a market capitalization of $265.45 billion, a P/E ratio of 17.06, a price-to-earnings-growth ratio of 1.48 and a beta of 0.81. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. The company’s 50 day simple moving average is $175.27 and its 200-day simple moving average is $168.61.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The firm had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. During the same period last year, the firm earned $3.12 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Sell-side analysts anticipate that Royal Bank Of Canada will post 11.53 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be issued a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.7%. Royal Bank Of Canada’s dividend payout ratio (DPR) is 42.41%.

Key Headlines Impacting Royal Bank Of Canada

Here are the key news stories impacting Royal Bank Of Canada this week:

• Positive Sentiment: Royal Bank of Canada reported quarterly earnings and revenue above analyst expectations, helped by stronger-than-forecast results across most business segments and lower loan-loss provisions. RBC Beats Estimates on Strong Results Across Its Business Lines
• Positive Sentiment: The company increased its quarterly dividend to $1.76 per share from $1.64, signaling management confidence in earnings power and capital strength. Royal Bank Of Canada Price Performance
• Positive Sentiment: Management sounded upbeat on the Canadian economy and said it is not worried about fintech competition, reinforcing the view that RBC can defend its market position. RBC CEO not afraid of competition, dismisses possibility of fintech disruption
• Neutral Sentiment: Insider buying was reported in a separate RIAEX filing tied to Global Asset Management (U.S.) Inc. RBC, but it does not appear directly related to Royal Bank of Canada’s public shares. Insider Purchase: 10% owner at $RIAEX Buys 1,956,000 Shares

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Truist Financial Corp boosted its holdings in shares of Royal Bank Of Canada by 10.6% during the 3rd quarter. Truist Financial Corp now owns 101,173 shares of the financial services provider’s stock worth $14,905,000 after buying an additional 9,677 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Royal Bank Of Canada by 2.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 344,993 shares of the financial services provider’s stock worth $50,824,000 after buying an additional 7,278 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Royal Bank Of Canada by 18.5% during the 4th quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after buying an additional 15,046 shares during the period. Rathbones Group PLC boosted its holdings in shares of Royal Bank Of Canada by 9.0% during the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock worth $55,480,000 after buying an additional 26,782 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in shares of Royal Bank Of Canada by 6.1% during the 4th quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock worth $1,086,601,000 after buying an additional 368,534 shares during the period. Institutional investors own 45.31% of the company’s stock.

About Royal Bank Of Canada

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.