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

Royal Bank Of Canada (NYSE:RY) (TSE:RY) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 5,258,072 shares, an increase of 56.9% from the August 15th total of 3,350,969 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average daily volume of 1,453,841 shares, the days-to-cover ratio is presently 3.6 days.

Royal Bank Of Canada Price Performance

NYSE RY traded up $1.28 during midday trading on Thursday, hitting $203.57. The company had a trading volume of 809,453 shares, compared to its average volume of 1,457,696. The firm has a 50-day moving average price of $209.48 and a 200-day moving average price of $191.28. Royal Bank Of Canada has a twelve month low of $143.13 and a twelve month high of $218.57. 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 company has a market capitalization of $282.27 billion, a PE ratio of 17.81, a P/E/G ratio of 1.83 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data 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 business had revenue of $13.22 billion for the quarter, compared to analysts’ expectations 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, analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be paid a $1.76 dividend. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio is currently 43.39%.

Institutional Investors Weigh In On Royal Bank Of Canada

Several large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Royal Bank Of Canada during the 4th quarter worth approximately $3,472,382,000. Geode Capital Management LLC boosted its position in Royal Bank Of Canada by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock worth $2,389,773,000 after purchasing an additional 882,253 shares during the period. Bank of Nova Scotia purchased a new position in shares of Royal Bank Of Canada in the second quarter valued at $2,549,157,000. The Manufacturers Life Insurance Company increased its holdings in Royal Bank Of Canada by 2.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 12,130,512 shares of the financial services provider’s stock worth $1,959,185,000 after acquiring an additional 250,859 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Royal Bank Of Canada in the 2nd quarter worth about $2,275,797,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analysts Set New Price Targets

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

Royal Bank Of Canada Company Profile

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.