Royal Bank Of Canada (NYSE:RY) Receives $162.00 Consensus Target Price from Analysts

Royal Bank Of Canada (NYSE:RY) (TSE:RY) has received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $162.00.

A number of research firms have commented on RY. TD Cowen raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Wall Street Zen raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Raymond James Financial restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, February 13th. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Wednesday, December 17th. Finally, TD Securities upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th.

Royal Bank Of Canada Trading Up 1.0%

Shares of RY stock opened at $172.47 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $176.19. The company has a market capitalization of $241.05 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.29 and a beta of 0.79. The business’s fifty day moving average is $169.68 and its 200 day moving average is $154.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 EPS for the quarter, topping the consensus estimate of $2.51 by $0.25. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The business had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $12.12 billion. During the same period in the previous year, the business earned $3.07 earnings per share. The firm’s revenue was up 14.2% on a year-over-year basis. On average, equities research analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Monday, January 26th. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s dividend payout ratio is 47.66%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RY. Florida Trust Wealth Management Co lifted its stake in shares of Royal Bank Of Canada by 2.8% in the 4th quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock valued at $373,000 after acquiring an additional 60 shares during the last quarter. Fiduciary Financial Group LLC increased its stake in Royal Bank Of Canada by 3.4% in the 4th quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 61 shares during the period. Alta Capital Management LLC lifted its position in Royal Bank Of Canada by 4.0% in the fourth quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock valued at $287,000 after purchasing an additional 65 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Royal Bank Of Canada by 1.6% during the third quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock valued at $713,000 after purchasing an additional 74 shares during the period. Finally, Advisory Resource Group increased its stake in shares of Royal Bank Of Canada by 0.8% in the third quarter. Advisory Resource Group now owns 9,110 shares of the financial services provider’s stock worth $1,342,000 after buying an additional 75 shares during the period. 45.31% of the stock is owned by institutional investors.

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.