Royal Bank Of Canada (RY) To Go Ex-Dividend on October 26th

Royal Bank Of Canada (NYSE:RY) (TSE:RY) announced a quarterly dividend on Wednesday, August 26th. Shareholders of record on Monday, October 26th will be paid a dividend of 1.76 per share by the financial services provider on Tuesday, November 24th. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, October 26th.

Royal Bank Of Canada has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 15 years. Royal Bank Of Canada has a dividend payout ratio of 48.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Royal Bank Of Canada to earn $12.63 per share next year, which means the company should continue to be able to cover its $4.95 annual dividend with an expected future payout ratio of 39.2%.

Royal Bank Of Canada Price Performance

NYSE RY opened at $204.63 on Friday. The firm’s fifty day simple moving average is $208.98 and its two-hundred day simple moving average is $187.80. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 12-month low of $143.13 and a 12-month high of $218.57. The firm has a market capitalization of $283.74 billion, a P/E ratio of 18.39, a P/E/G ratio of 1.56 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.18. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The business had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $12.98 billion. Analysts forecast that Royal Bank Of Canada will post 11.59 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods initiated coverage on shares of Royal Bank Of Canada in a report on Friday, August 21st. They set a “market perform” rating on the stock. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and an average price target of $225.00.

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.