Royal Bank Of Canada (NYSE:RY) Hits New 12-Month High – What’s Next?

Royal Bank Of Canada (NYSE:RY) (TSE:RY) shares reached a new 52-week high on Thursday . The company traded as high as $200.05 and last traded at $197.8170, with a volume of 2369098 shares. The stock had previously closed at $197.89.

Wall Street Analyst Weigh In

RY has been the subject of a number of research analyst reports. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Argus set a $225.00 target price on Royal Bank Of Canada in a research report on Thursday. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Price Performance

The business has a 50-day moving average price of $182.12 and a 200 day moving average price of $171.76. The company has a market cap of $277.37 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 1.57 and a beta of 0.81. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.The company had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. During the same quarter in the prior year, the firm earned $3.12 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, research analysts expect that Royal Bank Of Canada will post 11.52 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 Monday, August 24th. Stockholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This is a boost 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 dividend yield of 3.5%. Royal Bank Of Canada’s payout ratio is currently 42.41%.

Institutional Investors Weigh In On Royal Bank Of Canada

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Florida Trust Wealth Management Co lifted its position in shares of 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 last quarter. Echo45 Advisors LLC lifted its holdings in shares of 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 purchasing an additional 60 shares in the last quarter. Fiduciary Financial Group LLC lifted its holdings in shares of 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 purchasing an additional 61 shares in the last quarter. Key Financial Inc lifted its holdings in shares of 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 purchasing an additional 63 shares in the last quarter. Finally, Alta Capital Management LLC lifted its holdings in shares of Royal Bank Of Canada by 4.0% in the fourth 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. Institutional investors and hedge funds 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.