Royal Bank Of Canada (NYSE:RY) Short Interest Update

Royal Bank Of Canada (NYSE:RY) (TSE:RY) was the recipient of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 2,530,636 shares, a drop of 51.9% from the August 31st total of 5,258,072 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 843,979 shares, the days-to-cover ratio is currently 3.0 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Echo45 Advisors LLC grew 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 acquiring an additional 60 shares in the last quarter. Key Financial Inc boosted its position in 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 worth $26,000 after purchasing an additional 63 shares during the last quarter. Apella Capital LLC grew its stake in Royal Bank Of Canada by 3.1% in the 2nd quarter. Apella Capital LLC now owns 2,155 shares of the financial services provider’s stock valued at $451,000 after purchasing an additional 64 shares during the period. Cornerstone Financial Management LLC grew its stake in Royal Bank Of Canada by 45.2% in the 2nd quarter. Cornerstone Financial Management LLC now owns 212 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 66 shares during the period. Finally, Fiduciary Financial Group LLC increased its position in shares of Royal Bank Of Canada by 3.5% during the 2nd quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the financial services provider’s stock valued at $419,000 after purchasing an additional 68 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

RY has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods assumed coverage on Royal Bank Of Canada in a research note on Friday, August 21st. They set a “market perform” rating on the stock. Finally, Argus set a $225.00 price objective on Royal Bank Of Canada in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Price Performance

RY traded down $1.22 during trading on Tuesday, reaching $199.73. The stock had a trading volume of 812,408 shares, compared to its average volume of 1,442,252. Royal Bank Of Canada has a one year low of $143.13 and a one year high of $218.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. The business has a 50-day moving average of $207.78 and a 200-day moving average of $193.36. The stock has a market cap of $276.95 billion, a PE ratio of 17.47, a PEG ratio of 1.81 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.18. The company had revenue of $13.22 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. As a group, equities research analysts anticipate that Royal Bank Of Canada will post 11.83 EPS for the current fiscal 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 issued a C$1.76 dividend. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio is currently 43.39%.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and serves individuals, businesses, institutional clients and governments.

RBC provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and financial advice. Its wealth management operations offer investment management, brokerage, trust, private banking and financial planning services to individuals, families and institutions.

Through RBC Capital Markets, the company provides investment banking, corporate banking, securities, sales and trading, and financial advisory services.