Royal Bank Of Canada (NYSE:RY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have received a consensus recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $225.00.

A number of equities analysts have recently issued reports on RY shares. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st.

Royal Bank Of Canada Stock Performance

Royal Bank Of Canada stock opened at $216.67 on Monday. The stock has a 50-day simple moving average of $207.42 and a 200 day simple moving average of $185.32. The stock has a market capitalization of $300.44 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 1.71 and a beta of 0.80. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 12-month low of $135.92 and a 12-month high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The firm had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter last year, the company posted $3.12 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, research analysts anticipate that Royal Bank Of Canada will post 11.47 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be paid a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a dividend yield of 3.2%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s payout ratio is currently 44.56%.

Institutional Trading of Royal Bank Of Canada

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caisse de depot et placement du Quebec bought a new stake in Royal Bank Of Canada during the 2nd quarter worth about $360,367,000. Man Group plc acquired a new position in Royal Bank Of Canada during the 2nd quarter valued at about $38,616,000. Jupiter Topco LLC bought a new position in shares of Royal Bank Of Canada in the 2nd quarter valued at about $24,487,000. Bristol Gate Capital Partners Inc. acquired a new stake in shares of Royal Bank Of Canada during the 2nd quarter worth approximately $703,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Royal Bank Of Canada during the 2nd quarter worth approximately $22,536,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

About Royal Bank Of Canada

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.