Brokerages Set Royal Bank Of Canada (NYSE:RY) PT at $162.00

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have received a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $162.00.

RY has been the subject of a number of research analyst reports. Zacks Research cut Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. BMO Capital Markets restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Wednesday, December 17th. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Finally, Raymond James Financial restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, February 13th.

Institutional Investors Weigh In On Royal Bank Of Canada

Hedge funds have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd acquired a new stake in shares of Royal Bank Of Canada during the 4th quarter worth about $25,000. Tradewinds Capital Management LLC acquired a new stake in shares of Royal Bank Of Canada during the 4th quarter worth about $26,000. Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada during the 3rd quarter worth about $27,000. Toth Financial Advisory Corp acquired a new stake in shares of Royal Bank Of Canada during the 3rd quarter worth about $29,000. Finally, True Wealth Design LLC acquired a new stake in shares of Royal Bank Of Canada during the 3rd quarter worth about $31,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

NYSE RY opened at $173.37 on Tuesday. The stock has a market cap of $242.32 billion, a PE ratio of 16.59, a P/E/G ratio of 1.29 and a beta of 0.78. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a twelve month low of $113.43 and a twelve month high of $176.19. The stock has a fifty day simple moving average of $166.63 and a 200-day simple moving average of $160.65.

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

Royal Bank Of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be given a $1.64 dividend. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a yield of 3.8%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 45.74%.

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.