Royal Bank of Canada (NYSE:RY) Short Interest Update

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Royal Bank of Canada (NYSE:RY) (TSE:RY) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 5,850,000 shares, a growth of 35.7% from the September 30th total of 4,310,000 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily volume of 977,500 shares, the days-to-cover ratio is currently 6.0 days.

Institutional investors have recently added to or reduced their stakes in the company. Coastal Capital Group Inc. purchased a new position in shares of Royal Bank of Canada in the second quarter worth approximately $28,000. Capital Advisors Ltd. LLC purchased a new position in shares of Royal Bank of Canada in the second quarter worth approximately $32,000. Boston Partners purchased a new position in shares of Royal Bank of Canada in the second quarter worth approximately $50,000. Winslow Evans & Crocker Inc. increased its position in shares of Royal Bank of Canada by 34.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 806 shares of the financial services provider’s stock worth $64,000 after acquiring an additional 206 shares in the last quarter. Finally, CWM LLC increased its position in shares of Royal Bank of Canada by 140.0% in the third quarter. CWM LLC now owns 804 shares of the financial services provider’s stock worth $65,000 after acquiring an additional 469 shares in the last quarter. 41.24% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE RY traded up $0.06 during midday trading on Thursday, reaching $81.77. The company’s stock had a trading volume of 434,485 shares, compared to its average volume of 909,488. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $80.95 and a 200 day moving average price of $78.69. Royal Bank of Canada has a one year low of $65.76 and a one year high of $82.58. The company has a market cap of $117.09 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 2.05 and a beta of 1.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, August 21st. The financial services provider reported $1.69 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.04). The firm had revenue of $11.54 billion during the quarter, compared to analysts’ expectations of $11.56 billion. Royal Bank of Canada had a return on equity of 17.18% and a net margin of 19.66%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $2.10 earnings per share. Research analysts anticipate that Royal Bank of Canada will post 6.78 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a $0.796 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.76. This represents a $3.18 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Wednesday, October 23rd. Royal Bank of Canada’s dividend payout ratio (DPR) is 48.55%.

RY has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Thursday, November 7th. Scotiabank reiterated a “buy” rating on shares of Royal Bank of Canada in a report on Tuesday, August 20th. Barclays reiterated a “sell” rating on shares of Royal Bank of Canada in a report on Wednesday, August 21st. Finally, ValuEngine downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Royal Bank of Canada currently has a consensus rating of “Hold” and an average target price of $100.75.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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