Royal Bank Of Canada (NYSE:RY) Sees Strong Trading Volume – What’s Next?

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) saw unusually-strong trading volume on Friday. 3,824,113 shares changed hands during trading, an increase of 169% from the previous session’s volume of 1,420,776 shares. The stock last traded at $200.3640 and had previously closed at $202.06.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. Keefe, Bruyette & Woods began coverage on shares of Royal Bank Of Canada in a research note on Friday, August 21st. They issued a “market perform” rating on the stock. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Trading Down 0.9%

The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The firm has a market cap of $276.99 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 1.81 and a beta of 0.80. The firm’s 50-day simple moving average is $202.54 and its 200 day simple moving average is $197.68.

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

Royal Bank Of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be paid a C$1.76 dividend. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, October 26th. Royal Bank Of Canada’s payout ratio is 43.39%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RY. Simplicity Wealth LLC lifted its stake in Royal Bank Of Canada by 14.8% in the third quarter. Simplicity Wealth LLC now owns 4,015 shares of the financial services provider’s stock worth $789,000 after acquiring an additional 518 shares during the period. Lorne Steinberg Wealth Management Inc. boosted its position in shares of Royal Bank Of Canada by 0.5% in the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 133,170 shares of the financial services provider’s stock worth $26,194,000 after purchasing an additional 648 shares in the last quarter. Gibbs Wealth Management grew its stake in shares of Royal Bank Of Canada by 6.9% in the 3rd quarter. Gibbs Wealth Management now owns 17,127 shares of the financial services provider’s stock worth $3,367,000 after buying an additional 1,109 shares during the last quarter. XXI Wealth LLC increased its position in Royal Bank Of Canada by 13.1% during the 3rd quarter. XXI Wealth LLC now owns 1,730 shares of the financial services provider’s stock valued at $340,000 after buying an additional 200 shares in the last quarter. Finally, Yousif Capital Management LLC raised its stake in Royal Bank Of Canada by 2.5% during the third quarter. Yousif Capital Management LLC now owns 2,981 shares of the financial services provider’s stock valued at $586,000 after buying an additional 74 shares during 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 headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and provides banking, wealth management, capital markets, insurance and investor services to individuals, businesses, institutions and governments.

RBC’s personal and commercial banking operations offer deposit accounts, lending, mortgages, credit cards, payment services and financial advice. Its wealth management business provides investment management, private banking, trust, brokerage and advisory services, while RBC Capital Markets delivers investment banking, sales and trading, research and corporate finance services.