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

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have been given a consensus rating of “Moderate Buy” by the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $225.00.

A number of analysts have recently issued reports on RY shares. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Weiss Ratings cut shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, June 29th. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, Argus set a $225.00 target price on shares of Royal Bank Of Canada in a report on Thursday, June 11th.

Institutional Trading of Royal Bank Of Canada

A number of hedge funds have recently bought and sold shares of RY. Florida Trust Wealth Management Co increased its stake in Royal Bank Of Canada by 2.8% in the 4th quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock worth $373,000 after purchasing an additional 60 shares in the last quarter. Echo45 Advisors LLC lifted its stake in Royal Bank Of Canada by 5.0% during the first quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider’s stock valued at $204,000 after buying an additional 60 shares in the last quarter. Fiduciary Financial Group LLC lifted its stake in Royal Bank Of Canada by 3.4% during the fourth quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock valued at $320,000 after buying an additional 61 shares in the last quarter. Key Financial Inc boosted its holdings in shares of 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 worth $26,000 after buying an additional 63 shares during the period. Finally, Apella Capital LLC boosted its holdings in shares of Royal Bank Of Canada by 3.1% in the second quarter. Apella Capital LLC now owns 2,155 shares of the financial services provider’s stock worth $451,000 after buying an additional 64 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Down 2.3%

RY opened at $210.39 on Thursday. The company has a market cap of $291.72 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.71 and a beta of 0.80. Royal Bank Of Canada has a twelve month low of $127.38 and a twelve month high of $218.57. The company has a 50-day moving average price of $198.71 and a 200 day moving average price of $179.78. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data 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. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. During the same period in the previous year, the firm posted $3.12 EPS. Royal Bank Of Canada’s revenue was up 11.4% compared to the same quarter last year. Sell-side analysts expect that Royal Bank Of Canada will post 11.45 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a dividend of $1.76 per share. The ex-dividend date 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 yield of 3.3%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 42.41%.

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.