Royal Bank Of Canada (NYSE:RY) Reaches New 12-Month High – Should You Buy?

Royal Bank Of Canada (NYSE:RY) (TSE:RY) reached a new 52-week high during trading on Monday . The stock traded as high as $211.39 and last traded at $211.7310, with a volume of 848389 shares changing hands. The stock had previously closed at $211.09.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Weiss Ratings lowered Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, June 29th. Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Finally, Argus set a $225.00 price objective on Royal Bank Of Canada in a research report on Thursday, June 11th. Ten equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Stock Performance

The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average is $196.03 and its two-hundred day moving average is $178.55. The stock has a market capitalization of $297.40 billion, a P/E ratio of 19.23, a P/E/G ratio of 1.67 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results 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. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The firm had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter in the prior year, the firm earned $3.12 EPS. Royal Bank Of Canada’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Royal Bank Of Canada will post 11.45 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be issued a $1.76 dividend. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a yield of 3.3%. Royal Bank Of Canada’s dividend payout ratio is currently 42.41%.

Institutional Trading of Royal Bank Of Canada

Several hedge funds have recently added to or reduced their stakes in RY. Florida Trust Wealth Management Co increased its holdings in Royal Bank Of Canada by 2.8% in the fourth quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock worth $373,000 after buying an additional 60 shares during the last quarter. Echo45 Advisors LLC lifted its stake in Royal Bank Of Canada by 5.0% in the first 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 last quarter. Fiduciary Financial Group LLC lifted its stake in Royal Bank Of Canada by 3.4% in the fourth 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 last quarter. Key Financial Inc lifted its stake in Royal Bank Of Canada by 63.0% in the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 63 shares during the last quarter. Finally, Apella Capital LLC grew its position in Royal Bank Of Canada by 3.1% in the second quarter. Apella Capital LLC now owns 2,155 shares of the financial services provider’s stock worth $451,000 after acquiring an additional 64 shares in the last quarter. 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.