Royal Bank of Canada (NYSE:RY) Sees Large Volume Increase

Shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) saw an uptick in trading volume on Tuesday . 2,844,812 shares were traded during mid-day trading, an increase of 157% from the previous session’s volume of 1,108,774 shares.The stock last traded at $110.84 and had previously closed at $111.60.

Wall Street Analyst Weigh In

RY has been the subject of several recent research reports. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Saturday, July 20th. Jefferies Financial Group upgraded shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Scotiabank upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, May 17th. UBS Group started coverage on Royal Bank of Canada in a research note on Tuesday, July 2nd. They issued a “buy” rating on the stock. Finally, BMO Capital Markets cut Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Royal Bank of Canada has a consensus rating of “Moderate Buy” and a consensus price target of $133.25.

Royal Bank of Canada Trading Down 0.2 %

The firm has a market capitalization of $156.10 billion, a PE ratio of 13.69, a P/E/G ratio of 1.71 and a beta of 0.86. The firm has a 50 day simple moving average of $107.27 and a 200 day simple moving average of $101.99. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, May 30th. The financial services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.03 by $0.12. The company had revenue of $10.43 billion during the quarter, compared to the consensus estimate of $9.95 billion. Royal Bank of Canada had a return on equity of 14.87% and a net margin of 12.12%. Equities analysts expect that Royal Bank of Canada will post 8.59 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be given a dividend of $1.03 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $4.12 dividend on an annualized basis and a yield of 3.73%. Royal Bank of Canada’s dividend payout ratio is 51.49%.

Institutional Investors Weigh In On Royal Bank of Canada

A number of large investors have recently added to or reduced their stakes in the stock. Advisory Resource Group boosted its stake in shares of Royal Bank of Canada by 5.5% in the 2nd quarter. Advisory Resource Group now owns 9,226 shares of the financial services provider’s stock worth $981,000 after buying an additional 485 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. grew its stake in shares of Royal Bank of Canada by 11.4% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 348,141 shares of the financial services provider’s stock valued at $37,035,000 after purchasing an additional 35,584 shares during the period. Legacy Capital Group California Inc. increased its position in shares of Royal Bank of Canada by 7.0% during the 2nd quarter. Legacy Capital Group California Inc. now owns 2,736 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 179 shares during the last quarter. Capital Investment Counsel Inc lifted its stake in shares of Royal Bank of Canada by 9.4% in the 2nd quarter. Capital Investment Counsel Inc now owns 8,257 shares of the financial services provider’s stock worth $878,000 after purchasing an additional 712 shares during the period. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Royal Bank of Canada by 2.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 137,193 shares of the financial services provider’s stock worth $14,595,000 after buying an additional 2,804 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

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 checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.