Royal Bank Of Canada (NYSE:RY) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have received a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $225.00.

A number of brokerages have recently issued reports on RY. Argus set a $225.00 price target on Royal Bank Of Canada in a research report on Thursday, June 11th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 28th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. Finally, Keefe, Bruyette & Woods initiated coverage on Royal Bank Of Canada in a report on Friday, August 21st. They issued a “market perform” rating for the company.

Institutional Trading of Royal Bank Of Canada

Several large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company acquired a new position in shares of Royal Bank Of Canada in the second quarter valued at about $2,296,717,000. HighTower Advisors LLC lifted its holdings in shares of Royal Bank Of Canada by 18.5% during the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after purchasing an additional 15,046 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Royal Bank Of Canada by 6.1% during the fourth quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock worth $1,086,601,000 after purchasing an additional 368,534 shares during the period. Rathbones Group PLC boosted its position in Royal Bank Of Canada by 9.0% in the fourth quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock valued at $55,480,000 after buying an additional 26,782 shares during the last quarter. Finally, M. Kulyk & Associates LLC acquired a new position in Royal Bank Of Canada in the 2nd quarter worth approximately $2,953,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Down 0.8%

Shares of Royal Bank Of Canada stock opened at $208.99 on Friday. The firm’s 50 day moving average price is $209.68 and its 200-day moving average price is $189.86. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 52-week low of $143.13 and a 52-week high of $218.57. The company has a market cap of $289.79 billion, a P/E ratio of 18.28, a PEG ratio of 1.85 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 EPS for the quarter, topping the consensus estimate of $2.89 by $0.18. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. The firm had revenue of $13.22 billion during the quarter, compared to analyst estimates of $12.98 billion. On average, sell-side analysts predict that Royal Bank Of Canada will post 12.07 EPS for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be given a $1.76 dividend. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, October 26th. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 44.44%.

About Royal Bank Of Canada

Royal Bank of Canada (RBC) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it is one of Canada’s largest banks and serves individuals, businesses, institutions and governments.

RBC provides personal and commercial banking products, including deposit accounts, mortgages, consumer and business loans, credit cards and payment services. Through its wealth management operations, the company offers investment advice, brokerage, asset management, trust and estate services, and private banking.