Royal Bank Of Canada (RY) To Go Ex-Dividend on October 26th

Royal Bank Of Canada (NYSE:RY) (TSE:RY) announced a quarterly dividend on Wednesday, August 26th. Stockholders of record on Monday, October 26th will be paid a dividend of C$1.76 per share by the financial services provider on Tuesday, November 24th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, October 26th.

Royal Bank Of Canada has raised its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 15 years. Royal Bank Of Canada has a payout ratio of 48.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Royal Bank Of Canada to earn $12.81 per share next year, which means the company should continue to be able to cover its $4.94 annual dividend with an expected future payout ratio of 38.6%.

Royal Bank Of Canada Price Performance

Shares of RY traded down $0.89 during trading hours on Friday, hitting $201.17. 4,343,736 shares of the stock were exchanged, compared to its average volume of 1,190,918. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. Royal Bank Of Canada has a 12-month low of $143.38 and a 12-month high of $218.57. The company has a market cap of $278.42 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.81 and a beta of 0.80. The stock’s 50-day moving average price is $202.23 and its two-hundred day moving average price is $197.70.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data 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 firm had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $12.98 billion. Research analysts expect that Royal Bank Of Canada will post 11.83 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RY shares. Keefe, Bruyette & Woods assumed coverage on shares of Royal Bank Of Canada in a research report on Friday, August 21st. They issued a “market perform” rating for the company. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Finally, Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.00.

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 provides banking, wealth management, capital markets, insurance and investor services to individuals, businesses, institutions and governments.

RBC’s personal and commercial banking operations offer deposit accounts, lending, mortgages, credit cards, payment services and financial advice. Its wealth management business provides investment management, private banking, trust, brokerage and advisory services, while RBC Capital Markets delivers investment banking, sales and trading, research and corporate finance services.