Royal Bank Of Canada (NYSE:RY) Receives $225.00 Consensus Target Price from Brokerages

Royal Bank Of Canada (NYSE:RY) (TSE:RY) has earned an average rating of “Moderate Buy” from the fourteen analysts that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $225.00.

A number of research analysts recently commented on the stock. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. 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.

Royal Bank Of Canada Stock Up 0.7%

Shares of NYSE:RY opened at $203.63 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.70 and a current ratio of 0.82. The company has a market cap of $282.99 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 1.60 and a beta of 0.81. The firm has a 50 day simple moving average of $188.09 and a 200 day simple moving average of $174.83. Royal Bank Of Canada has a 52 week low of $127.38 and a 52 week high of $204.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The firm had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same period in the previous year, the firm posted $3.12 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. As a group, research analysts expect that Royal Bank Of Canada will post 11.45 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be paid a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is presently 42.41%.

Institutional Trading of Royal Bank Of Canada

Institutional investors have recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd acquired a new stake in Royal Bank Of Canada in the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC acquired a new stake in Royal Bank Of Canada in the fourth quarter valued at approximately $26,000. Key Financial Inc lifted its stake 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 valued at $26,000 after acquiring an additional 63 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in Royal Bank Of Canada in the third quarter valued at approximately $27,000. Finally, Maseco LLP lifted its stake in Royal Bank Of Canada by 355.0% in the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 142 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

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.