Royal Bank Of Canada (NYSE:RY) Sees Strong Trading Volume – Here’s Why

Royal Bank Of Canada (NYSE:RY) (TSE:RY) saw unusually-strong trading volume on Friday . Approximately 2,600,176 shares traded hands during trading, an increase of 72% from the previous session’s volume of 1,511,103 shares.The stock last traded at $209.7570 and had previously closed at $208.46.

Analyst Ratings Changes

A number of brokerages recently weighed in on RY. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Finally, Weiss Ratings downgraded Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, June 29th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Stock Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. The business has a 50 day moving average price of $200.41 and a two-hundred day moving average price of $180.62. The company has a market cap of $289.44 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 1.67 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.03. The business had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.Royal Bank Of Canada’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $3.12 EPS. On average, sell-side analysts anticipate that Royal Bank Of Canada will post 11.45 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be issued a $1.76 dividend. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio (DPR) is 42.41%.

Institutional Investors Weigh In On Royal Bank Of Canada

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RY. Harvest Fund Management Co. Ltd purchased a new stake in Royal Bank Of Canada during the 4th quarter valued at $25,000. Tradewinds Capital Management LLC purchased a new position in shares of Royal Bank Of Canada in the fourth quarter valued at about $26,000. Key Financial Inc raised its stake in shares of Royal Bank Of Canada by 63.0% during 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. Maseco LLP raised its stake in shares of Royal Bank Of Canada by 355.0% during 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. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Royal Bank Of Canada during the third quarter worth about $27,000. 45.31% of the stock is currently 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.