Royal Bank Of Canada (NYSE:RY) (TSE:RY) has received a consensus recommendation of “Hold” from the sixteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $77.00.

A number of research analysts have commented on the company. Zacks Investment Research downgraded Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research note on Wednesday. Macquarie assumed coverage on Royal Bank Of Canada in a research note on Tuesday. They issued an “underperform” rating on the stock. Canaccord Genuity assumed coverage on Royal Bank Of Canada in a research note on Tuesday, July 18th. They issued a “hold” rating on the stock. BidaskClub downgraded Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Scotiabank downgraded Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note on Monday, August 21st.

Shares of Royal Bank Of Canada (RY) traded up 0.64% during mid-day trading on Thursday, reaching $78.84. The company’s stock had a trading volume of 283,164 shares. The company has a market capitalization of $114.94 billion, a PE ratio of 13.09 and a beta of 1.06. The firm’s 50 day moving average is $77.45 and its 200-day moving average is $73.25. Royal Bank Of Canada has a 52-week low of $60.92 and a 52-week high of $80.98.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, August 23rd. The financial services provider reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.42 by ($0.01). Royal Bank Of Canada had a net margin of 22.98% and a return on equity of 16.63%. The business had revenue of $7.43 billion for the quarter, compared to analysts’ expectations of $7.11 billion. During the same quarter in the prior year, the firm posted $1.72 EPS. Analysts forecast that Royal Bank Of Canada will post $5.95 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, October 26th will be given a dividend of $0.724 per share. This represents a $2.90 annualized dividend and a dividend yield of 3.70%. The ex-dividend date is Wednesday, October 25th. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $0.64. Royal Bank Of Canada’s payout ratio is currently 50.36%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jolley Asset Management LLC lifted its position in shares of Royal Bank Of Canada by 1.0% during the 2nd quarter. Jolley Asset Management LLC now owns 2,425 shares of the financial services provider’s stock worth $176,000 after purchasing an additional 25 shares during the last quarter. Proficio Capital Partners LLC lifted its position in shares of Royal Bank Of Canada by 1.2% during the 2nd quarter. Proficio Capital Partners LLC now owns 2,124 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 26 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of Royal Bank Of Canada by 4.0% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,709 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 65 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Royal Bank Of Canada by 2.6% during the 2nd quarter. Parallel Advisors LLC now owns 4,179 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 106 shares during the last quarter. Finally, Investment Management of Virginia LLC lifted its position in shares of Royal Bank Of Canada by 0.9% during the 2nd quarter. Investment Management of Virginia LLC now owns 13,506 shares of the financial services provider’s stock worth $979,000 after purchasing an additional 121 shares during the last quarter. 40.76% of the stock is owned by institutional investors and hedge funds.

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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. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

Analyst Recommendations for Royal Bank Of Canada (NYSE:RY)

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