Short Interest in Royal Bank Of Canada (NYSE:RY) Decreases By 39.8%

Royal Bank Of Canada (NYSE:RY) (TSE:RY) was the recipient of a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 5,308,403 shares, a drop of 39.8% from the April 30th total of 8,815,158 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily volume of 1,062,523 shares, the short-interest ratio is currently 5.0 days.

Royal Bank Of Canada Trading Down 0.5%

NYSE:RY opened at $188.64 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The firm has a market cap of $263.66 billion, a P/E ratio of 16.95, a P/E/G ratio of 1.48 and a beta of 0.81. The firm has a 50-day simple moving average of $175.83 and a 200-day simple moving average of $168.90. Royal Bank Of Canada has a one year low of $126.02 and a one year high of $191.51.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. The firm had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. Royal Bank Of Canada’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.12 EPS. Equities analysts anticipate that Royal Bank Of Canada will post 11.53 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a dividend of $1.76 per share. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a dividend yield of 3.7%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 42.41%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in shares of Royal Bank Of Canada by 33.1% in the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 575 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Royal Bank Of Canada by 60.9% during the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after buying an additional 4,460 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Royal Bank Of Canada by 57.7% during the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after purchasing an additional 1,934 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in Royal Bank Of Canada by 39.1% during the second quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock valued at $1,783,000 after purchasing an additional 3,811 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in Royal Bank Of Canada by 9.0% during the second quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock valued at $6,279,000 after purchasing an additional 3,928 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on RY shares. Zacks Research downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday. Finally, Weiss Ratings cut shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.