Royal Bank Of Canada (NYSE:RY) Sets New 52-Week High – Time to Buy?

Royal Bank Of Canada (NYSE:RY) (TSE:RY) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $203.00 and last traded at $201.7040, with a volume of 519 shares traded. The stock had previously closed at $201.13.

Analyst Ratings Changes

Several analysts have recently weighed in on RY shares. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Stock Up 0.5%

The company has a market capitalization of $280.80 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 1.57 and a beta of 0.81. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $183.58 and a 200-day moving average price of $172.58.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The business had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.Royal Bank Of Canada’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the company posted $3.12 EPS. As a group, equities analysts anticipate that Royal Bank Of Canada will post 11.52 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be issued a $1.76 dividend. 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 annualized dividend and a dividend yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio is 42.41%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Florida Trust Wealth Management Co boosted its stake in Royal Bank Of Canada by 2.8% in the 4th quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock worth $373,000 after purchasing an additional 60 shares during the period. Echo45 Advisors LLC raised its stake in Royal Bank Of Canada by 5.0% during the 1st quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 60 shares during the period. Fiduciary Financial Group LLC lifted its holdings in shares of Royal Bank Of Canada by 3.4% in the fourth quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 61 shares in the last quarter. Key Financial Inc boosted its position in shares of Royal Bank Of Canada by 63.0% in the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after buying an additional 63 shares during the period. Finally, Alta Capital Management LLC boosted its position in shares of Royal Bank Of Canada by 4.0% in the fourth quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock worth $287,000 after buying an additional 65 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

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.