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

Royal Bank Of Canada (NYSE:RY) (TSE:RY) shares reached a new 52-week high on Wednesday . The company traded as high as $203.00 and last traded at $201.7040, with a volume of 519 shares traded. The stock had previously closed at $201.13.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RY shares. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Trading Up 0.5%

The firm has a market capitalization of $280.25 billion, a PE ratio of 18.12, a PEG ratio of 1.58 and a beta of 0.81. The firm’s fifty day moving average is $185.04 and its two-hundred day moving average is $173.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The business had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. During the same period in the prior year, the firm posted $3.12 EPS. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities analysts predict that Royal Bank Of Canada will post 11.52 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm 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 boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is currently 42.41%.

Institutional Trading of Royal Bank Of Canada

A number of hedge funds have recently bought and sold shares of the business. Florida Trust Wealth Management Co grew 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 valued at $373,000 after purchasing an additional 60 shares during the period. Echo45 Advisors LLC raised its stake in shares of Royal Bank Of Canada by 5.0% during the 1st quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider’s stock worth $204,000 after purchasing an additional 60 shares during the period. Fiduciary Financial Group LLC raised its stake in shares of Royal Bank Of Canada by 3.4% during the 4th quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock worth $320,000 after purchasing an additional 61 shares during the period. Key Financial Inc boosted its holdings in shares of Royal Bank Of Canada by 63.0% in the 1st 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 last quarter. Finally, Alta Capital Management LLC boosted its holdings in shares of Royal Bank Of Canada by 4.0% in the 4th quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock worth $287,000 after buying an additional 65 shares during the last quarter. 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.