Royal Bank Of Canada (NYSE:RY) Short Interest Update

Royal Bank Of Canada (NYSE:RY) (TSE:RY) saw a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 2,530,636 shares, a decrease of 51.9% from the August 31st total of 5,258,072 shares. Based on an average daily trading volume, of 843,979 shares, the days-to-cover ratio is currently 3.0 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Trading of Royal Bank Of Canada

A number of hedge funds have recently added to or reduced their stakes in RY. Harvest Fund Management Co. Ltd bought a new stake in shares of Royal Bank Of Canada in the 4th quarter valued at about $25,000. Key Financial Inc lifted its holdings in shares of Royal Bank Of Canada by 63.0% during the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 63 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new position in Royal Bank Of Canada during the 2nd quarter worth $28,000. Maseco LLP grew its stake in shares of Royal Bank Of Canada by 355.0% during the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 142 shares during the last quarter. Finally, Highland Investment Advisors LLC purchased a new position in shares of Royal Bank Of Canada in the 2nd quarter valued at approximately $31,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Performance

Shares of NYSE:RY traded down $3.26 during midday trading on Thursday, hitting $193.33. The stock had a trading volume of 792,884 shares, compared to its average volume of 1,437,375. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average price of $207.26 and a two-hundred day moving average price of $193.84. Royal Bank Of Canada has a 1 year low of $143.13 and a 1 year high of $218.57. The company has a market capitalization of $267.57 billion, a PE ratio of 16.90, a P/E/G ratio of 1.79 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.18. The company had revenue of $13.22 billion for the quarter, compared to analyst estimates of $12.98 billion. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. As a group, equities analysts predict that Royal Bank Of Canada will post 11.83 earnings per share for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be given a dividend of C$1.76 per share. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a yield of 3.6%. Royal Bank Of Canada’s payout ratio is 43.39%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RY shares. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 28th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Finally, Keefe, Bruyette & Woods started coverage on shares of Royal Bank Of Canada in a research report on Friday, August 21st. They set a “market perform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and serves individuals, businesses, institutional clients and governments.

RBC provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and financial advice. Its wealth management operations offer investment management, brokerage, trust, private banking and financial planning services to individuals, families and institutions.

Through RBC Capital Markets, the company provides investment banking, corporate banking, securities, sales and trading, and financial advisory services.