Royal Bank Of Canada (NYSE:RY) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have earned an average recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $225.00.

A number of analysts have recently issued reports on RY shares. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 15th.

Royal Bank Of Canada Price Performance

NYSE RY opened at $201.66 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a 12-month low of $126.02 and a 12-month high of $202.90. The company has a market capitalization of $280.25 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 1.59 and a beta of 0.81. The firm’s 50 day moving average is $185.68 and its 200-day moving average is $173.44.

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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The company had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same period last year, the company earned $3.12 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. Equities research analysts anticipate that Royal Bank Of Canada will post 11.52 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be issued a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio is presently 42.41%.

Hedge Funds Weigh In On Royal Bank Of Canada

A number of institutional investors have recently added to or reduced their stakes in RY. Florida Trust Wealth Management Co boosted its holdings in Royal Bank Of Canada by 2.8% during the 4th quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock valued at $373,000 after acquiring an additional 60 shares during the period. Echo45 Advisors LLC boosted its holdings in Royal Bank Of Canada by 5.0% during the 1st quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider’s stock valued at $204,000 after acquiring an additional 60 shares during the period. Fiduciary Financial Group LLC boosted its holdings in Royal Bank Of Canada by 3.4% during the 4th quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 61 shares during the period. Key Financial Inc raised its position in Royal Bank Of Canada by 63.0% during the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 63 shares in the last quarter. Finally, Alta Capital Management LLC raised its position in Royal Bank Of Canada by 4.0% during the 4th quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 65 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

About Royal Bank Of Canada

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.