Royal Bank Of Canada (NYSE:RY) Reaches New 52-Week High – What’s Next?

Royal Bank Of Canada (NYSE:RY) (TSE:RY) shares reached a new 52-week high during trading on Monday . The stock traded as high as $204.90 and last traded at $204.54, with a volume of 502853 shares traded. The stock had previously closed at $202.85.

Wall Street Analyst Weigh In

RY has been the topic of several research reports. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Weiss Ratings lowered shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday. Finally, Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Stock Up 0.9%

The business has a 50-day simple moving average of $189.78 and a 200-day simple moving average of $175.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $290.12 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.62 and a beta of 0.81.

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 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The business had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.12 earnings per share. On average, equities analysts anticipate that Royal Bank Of Canada will post 11.45 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. Investors of record on Monday, July 27th will be paid a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This is an increase 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 3.4%. Royal Bank Of Canada’s payout ratio is presently 42.41%.

Institutional Trading of Royal Bank Of Canada

A number of institutional investors have recently bought and sold shares of the business. Harvest Fund Management Co. Ltd purchased a new stake in Royal Bank Of Canada during the fourth quarter worth approximately $25,000. Tradewinds Capital Management LLC purchased a new stake in shares of Royal Bank Of Canada during the 4th quarter worth approximately $26,000. Key Financial Inc boosted its holdings in shares of Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after buying an additional 63 shares in the last quarter. Maseco LLP boosted its stake in Royal Bank Of Canada by 355.0% in the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 142 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada during the third quarter worth about $27,000. 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.