Royal Bank Of Canada (NYSE:RY) Reaches New 12-Month High – Should You Buy?

Royal Bank Of Canada (NYSE:RY) (TSE:RY) hit a new 52-week high on Monday . The company traded as high as $179.70 and last traded at $179.7160, with a volume of 2343985 shares trading hands. The stock had previously closed at $178.44.

Analysts Set New Price Targets

Several research firms recently issued reports on RY. Zacks Research lowered Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Thursday, January 22nd. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note 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. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.00.

Royal Bank Of Canada Stock Performance

The stock has a market capitalization of $250.76 billion, a PE ratio of 17.17, a price-to-earnings-growth ratio of 1.34 and a beta of 0.78. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. The stock has a fifty day moving average of $167.14 and a 200-day moving average of $161.48.

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

Royal Bank Of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be issued a $1.64 dividend. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $6.56 annualized dividend and a yield of 3.7%. Royal Bank Of Canada’s dividend payout ratio (DPR) is 45.07%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RY. Harvest Fund Management Co. Ltd acquired a new stake in shares of Royal Bank Of Canada in the 4th quarter valued at $25,000. Tradewinds Capital Management LLC purchased a new position in Royal Bank Of Canada in the fourth quarter valued at $26,000. Johnson Financial Group Inc. acquired a new stake in Royal Bank Of Canada in the third quarter valued at $27,000. Toth Financial Advisory Corp acquired a new stake in Royal Bank Of Canada in the third quarter valued at $29,000. Finally, True Wealth Design LLC purchased a new stake in 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 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.