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

Royal Bank Of Canada (NYSE:RY) (TSE:RY) shares hit a new 52-week high on Thursday . The stock traded as high as $182.15 and last traded at $181.7020, with a volume of 749819 shares changing hands. The stock had previously closed at $178.48.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Zacks Research cut shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday. Raymond James Financial reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of Royal Bank Of Canada in a research report on Monday. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Stock Performance

The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The company’s 50 day moving average is $168.53 and its 200-day moving average is $163.96. The company has a market capitalization of $253.96 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 1.34 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.13. The company had revenue of $13.18 billion during the quarter, compared to analyst estimates of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. Royal Bank Of Canada’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business earned $3.62 EPS. Equities analysts anticipate that Royal Bank Of Canada will post 11.57 EPS for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 45.17%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Florida Trust Wealth Management Co increased its stake in shares of 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 acquiring an additional 60 shares in the last quarter. Echo45 Advisors LLC increased its stake in shares of Royal Bank Of Canada by 5.0% in the 1st quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider’s stock worth $204,000 after acquiring an additional 60 shares in the last quarter. Fiduciary Financial Group LLC increased its stake in shares of Royal Bank Of Canada by 3.4% in the 4th quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 61 shares in the last quarter. Key Financial Inc increased its stake 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 worth $26,000 after acquiring an additional 63 shares in the last quarter. Finally, Alta Capital Management LLC increased its stake in shares of Royal Bank Of Canada by 4.0% in the 4th quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 65 shares in the last quarter. 45.31% of the stock is currently owned by 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.