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

Royal Bank Of Canada (NYSE:RY) (TSE:RY) has been given an average recommendation of “Moderate Buy” by the fourteen brokerages that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $225.00.

RY has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Weiss Ratings cut shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, June 29th. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th.

Royal Bank Of Canada Price Performance

NYSE:RY opened at $211.53 on Thursday. Royal Bank Of Canada has a 52 week low of $127.38 and a 52 week high of $218.57. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $293.31 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.67 and a beta of 0.80. The stock’s 50-day moving average price is $199.92 and its 200-day moving average price is $180.35.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.Royal Bank Of Canada’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.12 EPS. As a group, equities analysts expect that Royal Bank Of Canada will post 11.45 EPS for the current fiscal 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 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 annualized dividend and a dividend yield of 3.3%. Royal Bank Of Canada’s payout ratio is currently 42.41%.

Institutional Investors Weigh In On Royal Bank Of Canada

Institutional investors have recently bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new position in shares of Royal Bank Of Canada during the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC acquired a new stake in shares of Royal Bank Of Canada in the fourth quarter worth approximately $26,000. Key Financial Inc increased its position in shares of Royal Bank Of Canada by 63.0% during the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 63 shares in the last quarter. Maseco LLP increased its position in shares of Royal Bank Of Canada by 355.0% during the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in Royal Bank Of Canada in the 3rd quarter valued at $27,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

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.