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

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $162.00.

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, January 9th. Wall Street Zen raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Wednesday, December 17th. Finally, Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday.

Royal Bank Of Canada Price Performance

RY opened at $172.47 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s 50 day simple moving average is $169.68 and its 200 day simple moving average is $154.47. The firm has a market cap of $241.05 billion, a price-to-earnings ratio of 17.19, a PEG ratio of 1.27 and a beta of 0.79. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $176.19.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The firm had revenue of $12.27 billion during the quarter, compared to analyst estimates of $12.12 billion. During the same quarter in the prior year, the firm posted $3.07 earnings per share. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be issued a $1.64 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.54. The ex-dividend date is Monday, January 26th. This represents a $6.56 annualized dividend and a yield of 3.8%. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 47.66%.

Institutional Investors Weigh In On Royal Bank Of Canada

A number of large investors have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd purchased a new stake in Royal Bank Of Canada in the fourth quarter worth about $25,000. Tradewinds Capital Management LLC bought a new position in shares of Royal Bank Of Canada in the 4th quarter worth approximately $26,000. Johnson Financial Group Inc. purchased a new position in shares of Royal Bank Of Canada in the 3rd quarter valued at approximately $27,000. Toth Financial Advisory Corp bought a new stake in shares of Royal Bank Of Canada during the third quarter valued at approximately $29,000. Finally, Highline Wealth Partners LLC boosted its position in shares of Royal Bank Of Canada by 75.4% during the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 89 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

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.