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

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $225.00.

A number of equities analysts recently commented on RY shares. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Argus set a $225.00 price objective on Royal Bank Of Canada in a research note on Thursday, June 11th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, June 29th. Finally, Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th.

Royal Bank Of Canada Stock Performance

Shares of RY opened at $217.77 on Thursday. The firm has a 50-day moving average of $196.75 and a 200-day moving average of $178.88. Royal Bank Of Canada has a one year low of $127.38 and a one year high of $217.87. The company has a market cap of $302.65 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 1.70 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.03. The company had revenue of $12.84 billion for 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 17.68%. Royal Bank Of Canada’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.12 EPS. As a group, equities analysts forecast that Royal Bank Of Canada will post 11.45 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a $1.76 dividend. This is an increase 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 dividend on an annualized basis and a yield of 3.2%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 44.47%.

Institutional Investors Weigh In On Royal Bank Of Canada

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Royal Bank Of Canada by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock worth $11,529,165,000 after purchasing an additional 1,290,142 shares during the period. FIL Ltd grew its holdings in Royal Bank Of Canada by 1.1% in the 4th quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider’s stock valued at $3,965,133,000 after buying an additional 255,465 shares in the last quarter. Norges Bank acquired a new position in Royal Bank Of Canada in the 4th quarter valued at $3,472,382,000. Bank of Nova Scotia increased its position in Royal Bank Of Canada by 1.6% during the 4th quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider’s stock worth $2,596,904,000 after buying an additional 238,589 shares during the period. Finally, Geode Capital Management LLC increased its position in Royal Bank Of Canada by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock worth $2,389,773,000 after buying an additional 882,253 shares during the period. Institutional investors own 45.31% of the company’s stock.

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.