Analysts Set Royal Bank of Canada (NYSE:RY) PT at $139.54

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) has been given an average rating of “Hold” by the sixteen research firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $139.54.

A number of research analysts have recently issued reports on RY shares. Canaccord Genuity Group reduced their price objective on Royal Bank of Canada from C$134.00 to C$131.50 and set a “hold” rating on the stock in a research note on Thursday, August 18th. Credit Suisse Group cut their target price on Royal Bank of Canada from C$144.00 to C$143.00 in a research note on Thursday, August 25th. National Bank Financial raised their target price on Royal Bank of Canada from C$147.00 to C$148.00 in a research note on Thursday, August 25th. Barclays started coverage on Royal Bank of Canada in a research note on Thursday, September 29th. They issued an “overweight” rating on the stock. Finally, Keefe, Bruyette & Woods cut Royal Bank of Canada from a “market perform” rating to an “underperform” rating and cut their target price for the stock from C$132.00 to C$118.00 in a research note on Monday, August 8th.

Hedge Funds Weigh In On Royal Bank of Canada

Several large investors have recently made changes to their positions in the business. RFG Advisory LLC raised its holdings in Royal Bank of Canada by 0.6% in the 3rd quarter. RFG Advisory LLC now owns 16,971 shares of the financial services provider’s stock worth $1,626,000 after acquiring an additional 103 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Royal Bank of Canada by 56.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 290 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 105 shares during the last quarter. Vident Investment Advisory LLC raised its holdings in Royal Bank of Canada by 1.1% in the 1st quarter. Vident Investment Advisory LLC now owns 9,935 shares of the financial services provider’s stock worth $1,095,000 after acquiring an additional 105 shares during the last quarter. Leisure Capital Management raised its holdings in Royal Bank of Canada by 1.0% in the 1st quarter. Leisure Capital Management now owns 10,790 shares of the financial services provider’s stock worth $1,190,000 after acquiring an additional 107 shares during the last quarter. Finally, Glassman Wealth Services raised its holdings in Royal Bank of Canada by 1.6% in the 2nd quarter. Glassman Wealth Services now owns 6,666 shares of the financial services provider’s stock worth $645,000 after acquiring an additional 107 shares during the last quarter. 40.46% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Trading Down 0.3 %

NYSE RY opened at $98.80 on Friday. The stock’s 50-day simple moving average is $92.93 and its two-hundred day simple moving average is $96.17. Royal Bank of Canada has a twelve month low of $83.63 and a twelve month high of $119.41. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $136.95 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 2.37 and a beta of 0.82.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last released its quarterly earnings results on Wednesday, August 24th. The financial services provider reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.01. Royal Bank of Canada had a return on equity of 16.85% and a net margin of 26.29%. The business had revenue of $9.43 billion for the quarter. Research analysts forecast that Royal Bank of Canada will post 8.41 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 24th. Stockholders of record on Wednesday, October 26th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 4.05%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.00. The ex-dividend date of this dividend is Tuesday, October 25th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 42.68%.

Royal Bank of Canada Company Profile

(Get Rating)

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.

Further Reading

Analyst Recommendations for Royal Bank of Canada (NYSE:RY)

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