Royal Bank Of Canada (RY) To Go Ex-Dividend on July 27th

Royal Bank Of Canada (NYSE:RY) (TSE:RY) announced a quarterly dividend on Wednesday, May 27th. Stockholders of record on Monday, July 27th will be given a dividend of 1.76 per share by the financial services provider on Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, July 27th. This is a 7.3% increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64.

Royal Bank Of Canada has raised its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 15 consecutive years. Royal Bank Of Canada has a dividend payout ratio of 48.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Royal Bank Of Canada to earn $12.51 per share next year, which means the company should continue to be able to cover its $4.95 annual dividend with an expected future payout ratio of 39.6%.

Royal Bank Of Canada Stock Up 0.3%

Shares of NYSE:RY opened at $209.13 on Friday. Royal Bank Of Canada has a 52-week low of $127.38 and a 52-week high of $218.57. The firm has a fifty day moving average of $200.93 and a 200 day moving average of $180.81. The firm has a market capitalization of $289.98 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 1.65 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RY shares. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Raymond James Financial lowered Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Weiss Ratings cut shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, June 29th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a report on Thursday, June 11th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

About Royal Bank Of Canada

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.