Royal Bank Of Canada (NYSE:RY) Stock Short Interest Report for September

Royal Bank Of Canada (NYSE:RY) (TSE:RY) was the target of a large increase in short interest in September. As of September 30th, there was short interest totaling 6,095,117 shares, an increase of 140.9% from the September 15th total of 2,530,636 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily volume of 1,080,834 shares, the days-to-cover ratio is currently 5.6 days.

Analysts Set New Price Targets

RY has been the subject of a number of research reports. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, August 28th. Keefe, Bruyette & Woods began coverage on Royal Bank Of Canada in a report on Friday, August 21st. They set a “market perform” rating on the stock. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Finally, TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. One equities research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Institutional Trading of Royal Bank Of Canada

Several large investors have recently added to or reduced their stakes in the business. BOK Financial Private Wealth Inc. acquired a new stake in Royal Bank Of Canada in the second quarter worth about $28,000. Highland Investment Advisors LLC acquired a new position in shares of Royal Bank Of Canada in the 2nd quarter worth approximately $31,000. Bell Investment Advisors Inc acquired a new position in shares of Royal Bank Of Canada in the 2nd quarter worth approximately $32,000. Continuum Advisory LLC bought a new stake in shares of Royal Bank Of Canada in the 2nd quarter worth approximately $33,000. Finally, Key Financial Inc raised its holdings in shares of Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 63 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Stock Performance

RY stock traded down $0.92 during trading on Wednesday, hitting $193.75. 726,877 shares of the company’s stock traded hands, compared to its average volume of 1,105,603. 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 $143.38 and a 52 week high of $218.57. The stock has a fifty day moving average price of $204.10 and a two-hundred day moving average price of $196.09. The stock has a market capitalization of $268.14 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 1.75 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.18. The company 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, equities analysts anticipate that Royal Bank Of Canada will post 11.83 EPS for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

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

About Royal Bank Of Canada

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.