Royal Bank Of Canada (RY) Research Coverage Started at Dundee Securities
Equities researchers at Dundee Securities assumed coverage on shares of Royal Bank Of Canada (NYSE:RY) in a note issued to investors on Wednesday, The Fly reports. The brokerage set a “neutral” rating on the stock.
Several other brokerages have also weighed in on RY. Argus reiterated a “buy” rating and set a $71.00 target price (up from $69.00) on shares of Royal Bank Of Canada in a research report on Thursday, August 25th. BMO Capital Markets reiterated a “hold” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 25th. TD Securities reiterated a “hold” rating and set a $86.00 target price (up from $81.00) on shares of Royal Bank Of Canada in a research report on Friday, August 26th. Zacks Investment Research upgraded shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating and set a $70.00 target price on the stock in a research report on Friday, August 26th. Finally, Desjardins reiterated a “buy” rating and set a $86.00 target price on shares of Royal Bank Of Canada in a research report on Friday, August 26th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $83.70.
Royal Bank Of Canada (NYSE:RY) opened at 61.32 on Wednesday. Royal Bank Of Canada has a 12-month low of $44.37 and a 12-month high of $64.13. The company has a market capitalization of $90.98 billion, a PE ratio of 11.76 and a beta of 1.17. The stock has a 50 day moving average of $61.95 and a 200 day moving average of $60.16.
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Royal Bank Of Canada (NYSE:RY) last posted its quarterly earnings results on Wednesday, August 24th. The company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.39. The company had revenue of $10.26 billion for the quarter, compared to analyst estimates of $7.27 billion. Royal Bank Of Canada had a net margin of 22.91% and a return on equity of 16.36%. During the same period last year, the business posted $1.66 EPS. On average, equities research analysts predict that Royal Bank Of Canada will post $5.19 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, November 24th. Shareholders of record on Wednesday, October 26th will be paid a $0.6449 dividend. The ex-dividend date is Monday, October 24th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $0.62. This represents a $2.58 dividend on an annualized basis and a dividend yield of 4.21%. Royal Bank Of Canada’s payout ratio is currently 50.20%.
Institutional investors have recently made changes to their positions in the company. Signaturefd LLC increased its position in shares of Royal Bank Of Canada by 32.4% in the second quarter. Signaturefd LLC now owns 1,867 shares of the company’s stock worth $110,000 after buying an additional 457 shares in the last quarter. Pacad Investment Ltd. acquired a new stake in shares of Royal Bank Of Canada during the second quarter valued at approximately $130,000. Americafirst Capital Management LLC acquired a new stake in shares of Royal Bank Of Canada during the second quarter valued at approximately $139,000. Jolley Asset Management LLC boosted its stake in shares of 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 boosted its stake in shares of 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. 45.07% of the stock is owned by institutional investors.
About Royal Bank Of Canada
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.
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