Royal Bank Of Canada (NYSE:RY) declared a quarterly dividend on Thursday, August 25th. Investors of record on Wednesday, October 26th will be given a dividend of 0.6449 per share on Thursday, November 24th. This represents a $2.58 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date of this dividend is Monday, October 24th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $0.62.
Royal Bank Of Canada (NYSE:RY) opened at 63.66 on Wednesday. The firm has a market capitalization of $94.46 billion, a price-to-earnings ratio of 12.26 and a beta of 1.14. Royal Bank Of Canada has a 52-week low of $44.37 and a 52-week high of $64.13. The company’s 50-day moving average is $62.04 and its 200-day moving average is $60.93.
Royal Bank Of Canada (NYSE:RY) last issued its quarterly earnings results on Wednesday, August 24th. The company reported $1.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.39. The firm earned $10.26 billion during the quarter, compared to analysts’ expectations of $7.27 billion. Royal Bank Of Canada had a net margin of 22.91% and a return on equity of 16.36%. During the same quarter in the prior year, the business earned $1.66 EPS. Equities analysts predict that Royal Bank Of Canada will post $5.18 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the stock. Pacad Investment Ltd. acquired a new position in Royal Bank Of Canada during the second quarter valued at $130,000. Advisor Group Inc. acquired a new position in Royal Bank Of Canada during the second quarter valued at $183,000. AHL Partners LLP acquired a new position in Royal Bank Of Canada during the second quarter valued at $312,000. Capital Wealth Planning LLC acquired a new position in Royal Bank Of Canada during the second quarter valued at $361,000. Finally, Highbridge Capital Management LLC acquired a new position in Royal Bank Of Canada during the second quarter valued at $390,000. Hedge funds and other institutional investors own 45.07% of the company’s stock.
A number of analysts recently weighed in on RY shares. Argus started coverage on shares of Royal Bank Of Canada in a research note on Friday, July 1st. They set a “buy” rating and a $69.00 price target for the company. Bank of America Corp. restated an “underperform” rating on shares of Royal Bank Of Canada in a research note on Tuesday, July 12th. Canaccord Genuity restated a “hold” rating on shares of Royal Bank Of Canada in a research note on Tuesday, July 19th. Zacks Investment Research cut shares of Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Finally, Citigroup Inc. raised their target price on shares of Royal Bank Of Canada from $88.00 to $89.00 and gave the stock a “buy” rating in a research note on Monday, August 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $83.70.
Royal Bank Of Canada Company Profile
Royal Bank of Canada (RBC) is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. It operates in five segments: Personal & Commercial Banking, which operates comprises its personal and business banking operations, as well as its auto financing and retail investment businesses; Wealth Management, which comprises Canadian Wealth Management, United States and International Wealth Management and Global Asset Management (GAM); Insurance, which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services, which is a provider of asset servicing, custody, payments and treasury services, and Capital Markets, which comprises two business lines: Corporate and Investment Banking and Global Markets.
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