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

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have been assigned a consensus rating of “Moderate Buy” from the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $162.00.

RY has been the topic of several recent research reports. National Bank Financial reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, December 4th. UBS Group restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Tuesday, November 25th. 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. TD Securities upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Finally, Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, January 9th.

Royal Bank Of Canada Stock Down 1.2%

NYSE:RY opened at $160.36 on Friday. The company has a market cap of $224.14 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 1.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. The stock’s fifty day moving average price is $168.13 and its two-hundred day moving average price is $158.29. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $176.19.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, beating the consensus estimate of $2.81 by $0.13. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The company had revenue of $13.18 billion during the quarter, compared to analysts’ expectations of $12.60 billion. During the same period last year, the firm earned $3.62 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be given a dividend of $1.64 per share. The ex-dividend date is Thursday, April 23rd. This represents a $6.56 annualized dividend and a dividend yield of 4.1%. Royal Bank Of Canada’s payout ratio is presently 45.74%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RY. Brighton Jones LLC increased its holdings in Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 575 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Royal Bank Of Canada by 60.9% during the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after buying an additional 4,460 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in Royal Bank Of Canada by 57.7% during the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock worth $695,000 after buying an additional 1,934 shares during the last quarter. Fox Run Management L.L.C. grew its position in shares of Royal Bank Of Canada by 58.2% during the 2nd quarter. Fox Run Management L.L.C. now owns 3,158 shares of the financial services provider’s stock worth $415,000 after buying an additional 1,162 shares during the period. Finally, Allworth Financial LP grew its position in shares of Royal Bank Of Canada by 11.9% during the 2nd quarter. Allworth Financial LP now owns 2,071 shares of the financial services provider’s stock worth $272,000 after buying an additional 220 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

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.