Brokerages Set Royal Bank Of Canada (NYSE:RY) Target Price at $225.00

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have earned an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $225.00.

Several analysts have issued reports on the company. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a report on Thursday, June 11th. Finally, Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RY. Norges Bank acquired a new stake in shares of Royal Bank Of Canada during the fourth quarter worth approximately $3,472,382,000. Bank of Nova Scotia purchased a new stake in Royal Bank Of Canada in the 2nd quarter worth approximately $2,549,157,000. The Manufacturers Life Insurance Company purchased a new stake in Royal Bank Of Canada in the 2nd quarter worth approximately $2,296,717,000. Canada Pension Plan Investment Board acquired a new stake in shares of Royal Bank Of Canada during the 2nd quarter valued at $2,275,797,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Royal Bank Of Canada during the 2nd quarter valued at $2,260,820,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Down 0.0%

Shares of Royal Bank Of Canada stock opened at $210.58 on Friday. The stock’s fifty day moving average is $209.53 and its 200-day moving average is $189.30. The firm has a market capitalization of $291.99 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 1.85 and a beta of 0.79. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 12-month low of $143.13 and a 12-month high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, August 27th. The financial services provider reported $3.07 EPS for the quarter, beating the consensus estimate of $2.89 by $0.18. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%.The business had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $12.98 billion. Equities analysts anticipate that Royal Bank Of Canada will post 12.07 earnings per share for the current year.

Royal Bank Of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be paid a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, October 26th. Royal Bank Of Canada’s payout ratio is 43.39%.

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.