Dundee Securities initiated coverage on shares of Royal Bank Of Canada (NYSE:RY) in a research report issued on Wednesday. The firm set a “neutral” rating on the stock.

A number of other analysts have also commented on RY. Citigroup Inc. lifted their price target on Royal Bank Of Canada from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Wednesday, September 14th. Credit Suisse Group AG reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Sunday, September 11th. TD Securities reiterated a “hold” rating and set a $86.00 price target (up from $81.00) on shares of Royal Bank Of Canada in a report on Friday, August 26th. Scotiabank reiterated an “outperform” rating and set a $86.00 price target (up from $85.00) on shares of Royal Bank Of Canada in a report on Friday, August 26th. Finally, Desjardins reiterated a “buy” rating and set a $86.00 price target on shares of Royal Bank Of Canada in a report on Friday, August 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $83.70.

Shares of Royal Bank Of Canada (NYSE:RY) opened at 61.32 on Wednesday. The company has a market capitalization of $90.98 billion, a P/E ratio of 11.76 and a beta of 1.17. The stock’s 50 day moving average price is $61.95 and its 200-day moving average price is $60.16. Royal Bank Of Canada has a 52-week low of $44.37 and a 52-week high of $64.13.

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Royal Bank Of Canada (NYSE:RY) last posted its earnings results on Wednesday, August 24th. The company reported $1.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.39. Royal Bank Of Canada had a return on equity of 16.36% and a net margin of 22.91%. The company had revenue of $10.26 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same quarter last year, the company earned $1.66 earnings per share. On average, equities analysts expect that Royal Bank Of Canada will post $5.19 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 24th. Stockholders of record on Wednesday, October 26th will be given a $0.6449 dividend. The ex-dividend date is Monday, October 24th. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $0.62. This represents a $2.58 annualized dividend and a dividend yield of 4.21%. Royal Bank Of Canada’s payout ratio is 50.20%.

Several institutional investors have recently made changes to their positions in the stock. Signaturefd LLC raised its stake in Royal Bank Of Canada by 32.4% in the second quarter. Signaturefd LLC now owns 1,867 shares of the company’s stock valued at $110,000 after buying an additional 457 shares in the last quarter. Pacad Investment Ltd. acquired a new stake in Royal Bank Of Canada during the second quarter valued at about $130,000. Americafirst Capital Management LLC acquired a new stake in Royal Bank Of Canada during the second quarter valued at about $139,000. Jolley Asset Management LLC raised its stake in Royal Bank Of Canada by 14.3% in the second quarter. Jolley Asset Management LLC now owns 2,400 shares of the company’s stock valued at $142,000 after buying an additional 300 shares in the last quarter. Finally, Integrated Wealth Management raised its stake in Royal Bank Of Canada by 49.3% in the second quarter. Integrated Wealth Management now owns 2,573 shares of the company’s stock valued at $152,000 after buying an additional 850 shares in the last quarter. Institutional investors own 45.07% of the company’s stock.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (RBC) is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. It operates in five segments: Personal & Commercial Banking, which operates comprises its personal and business banking operations, as well as its auto financing and retail investment businesses; Wealth Management, which comprises Canadian Wealth Management, United States and International Wealth Management and Global Asset Management (GAM); Insurance, which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services, which is a provider of asset servicing, custody, payments and treasury services, and Capital Markets, which comprises two business lines: Corporate and Investment Banking and Global Markets.

5 Day Chart for NYSE:RY

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