Brokerages Set Royal Bank Of Canada (NYSE:RY) Target Price at $162.00

Royal Bank Of Canada (NYSE:RY) (TSE:RY) has received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $162.00.

Several research analysts have recently weighed in on RY shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Wednesday, December 17th. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Thursday, January 22nd. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th. National Bank Financial restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, December 4th. Finally, UBS Group reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Tuesday, November 25th.

Institutional Investors Weigh In On Royal Bank Of Canada

Several hedge funds have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd purchased a new stake in shares of Royal Bank Of Canada during the 4th quarter valued at $25,000. Tradewinds Capital Management LLC bought a new stake in shares of Royal Bank Of Canada during the 4th quarter worth $26,000. Johnson Financial Group Inc. purchased a new position in Royal Bank Of Canada in the third quarter worth $27,000. Toth Financial Advisory Corp purchased a new position in Royal Bank Of Canada in the third quarter worth $29,000. Finally, True Wealth Design LLC bought a new position in Royal Bank Of Canada in the third quarter valued at $31,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Price Performance

RY stock opened at $164.20 on Friday. The firm has a 50 day moving average of $168.45 and a 200-day moving average of $158.25. The firm has a market capitalization of $229.50 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 1.24 and a beta of 0.79. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $176.19. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.13. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The business had revenue of $13.18 billion for the quarter, compared to analyst estimates of $12.60 billion. During the same quarter in the prior year, the firm posted $3.62 EPS. Royal Bank Of Canada’s revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio is 45.93%.

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.