Royal Bank Of Canada (NYSE:RY) Receives $225.00 Average PT from Analysts

Royal Bank Of Canada (NYSE:RY) (TSE:RY) has received an average recommendation of “Moderate Buy” from the fourteen analysts that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $225.00.

Several equities analysts recently weighed in on RY shares. Keefe, Bruyette & Woods initiated coverage on shares of Royal Bank Of Canada in a report on Friday, August 21st. They issued a “market perform” rating on the stock. Argus set a $225.00 price target on Royal Bank Of Canada in a research note on Thursday, June 11th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Friday, August 21st. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, August 28th.

Institutional Trading of Royal Bank Of Canada

Hedge funds have recently modified their holdings of the company. BOK Financial Private Wealth Inc. bought a new stake in Royal Bank Of Canada in the second quarter valued at approximately $28,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Royal Bank Of Canada in the 4th quarter valued at $25,000. Highland Investment Advisors LLC bought a new stake in shares of Royal Bank Of Canada in the 2nd quarter valued at $31,000. Bell Investment Advisors Inc acquired a new stake in Royal Bank Of Canada during the 2nd quarter worth $32,000. Finally, Continuum Advisory LLC bought a new position in Royal Bank Of Canada during the second quarter worth about $33,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Down 0.4%

Shares of RY opened at $205.94 on Friday. The stock’s fifty day simple moving average is $209.68 and its 200-day simple moving average is $190.35. The firm has a market capitalization of $285.56 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 1.82 and a beta of 0.79. Royal Bank Of Canada has a 12-month low of $143.13 and a 12-month high of $218.57. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.18. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%.The firm had revenue of $13.22 billion during the quarter, compared to analysts’ expectations of $12.98 billion. As a group, research analysts predict that Royal Bank Of Canada will post 12.07 earnings per share for the current year.

Royal Bank Of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be given a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada’s payout ratio is presently 43.39%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (RBC) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it is one of Canada’s largest banks and serves individuals, businesses, institutions and governments.

RBC provides personal and commercial banking products, including deposit accounts, mortgages, consumer and business loans, credit cards and payment services. Through its wealth management operations, the company offers investment advice, brokerage, asset management, trust and estate services, and private banking.