Royal Bank Of Canada (NYSE:RY) Sets New 52-Week High Following Analyst Upgrade

Royal Bank Of Canada (NYSE:RY) (TSE:RY) shares reached a new 52-week high during mid-day trading on Tuesday after Natl Bk Canada upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $155.12 and last traded at $154.4240, with a volume of 1049424 shares. The stock had previously closed at $152.89.

Other equities analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. National Bankshares reiterated a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Bank Of Canada in a research report on Wednesday, October 8th. Finally, Raymond James Financial started coverage on Royal Bank Of Canada in a research note on Monday, November 24th. They issued a “moderate buy” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $177.50.

Hedge Funds Weigh In On Royal Bank Of Canada

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in shares of Royal Bank Of Canada by 1.6% in the third quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock worth $713,000 after buying an additional 74 shares during the last quarter. Advisory Resource Group increased its position in shares of Royal Bank Of Canada by 0.8% in the 3rd quarter. Advisory Resource Group now owns 9,110 shares of the financial services provider’s stock worth $1,342,000 after purchasing an additional 75 shares during the last quarter. Ballentine Partners LLC raised its stake in shares of Royal Bank Of Canada by 1.5% in the 3rd quarter. Ballentine Partners LLC now owns 5,153 shares of the financial services provider’s stock valued at $759,000 after purchasing an additional 75 shares in the last quarter. Trust Co of the South lifted its position in shares of Royal Bank Of Canada by 0.3% during the second quarter. Trust Co of the South now owns 25,121 shares of the financial services provider’s stock worth $3,305,000 after purchasing an additional 78 shares during the last quarter. Finally, Brucke Financial Inc. grew its stake in Royal Bank Of Canada by 1.9% in the second quarter. Brucke Financial Inc. now owns 4,264 shares of the financial services provider’s stock worth $561,000 after purchasing an additional 79 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Performance

The company has a fifty day moving average of $147.78 and a two-hundred day moving average of $138.92. The stock has a market capitalization of $219.37 billion, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, January 26th. This represents a $6.56 annualized dividend and a dividend yield of 4.2%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s dividend payout ratio is currently 46.67%.

About Royal Bank Of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.