Royal Bank Of Canada (NYSE:RY) Research Coverage Started at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods initiated coverage on shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in a research report sent to investors on Friday morning. The firm issued a market perform rating on the financial services provider’s stock.

Several other brokerages have also issued reports on RY. Argus set a $225.00 price target on Royal Bank Of Canada in a research note on Thursday, June 11th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Finally, Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Stock Performance

Shares of NYSE:RY opened at $204.86 on Friday. The company’s 50 day simple moving average is $208.56 and its 200 day simple moving average is $186.79. The stock has a market capitalization of $284.06 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 1.54 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. Royal Bank Of Canada has a 1 year low of $135.97 and a 1 year high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The firm had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same period in the prior year, the company earned $3.12 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, research analysts predict that Royal Bank Of Canada will post 11.59 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business 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 dividend of $1.76 per share. The ex-dividend date of this dividend is Monday, July 27th. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. Royal Bank Of Canada’s payout ratio is presently 44.56%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RY. BOK Financial Private Wealth Inc. bought a new stake in Royal Bank Of Canada during the 2nd quarter worth $28,000. Harvest Fund Management Co. Ltd bought a new position in Royal Bank Of Canada in the fourth quarter valued at about $25,000. Highland Investment Advisors LLC acquired a new stake in shares of Royal Bank Of Canada during the second quarter valued at about $31,000. Bell Investment Advisors Inc acquired a new stake in shares of Royal Bank Of Canada during the second quarter valued at about $32,000. Finally, Continuum Advisory LLC bought a new stake in shares of Royal Bank Of Canada during the second quarter worth about $33,000. 45.31% of the stock is currently owned by institutional investors.

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.