Other equity research analysts have also recently released reports on the company. Credit Suisse Group reduced its target price on Royal Bank of Canada from C$153.00 to C$152.00 in a report on Friday, May 27. CIBC upgraded Royal Bank of Canada from a neutral rating to a sector outperform rating in a Monday, April 11 research report. BMO Capital Markets lowered its price target on Royal Bank of Canada from C$142.00 to C$140.00 in a research report on Friday, May 27. Stifel Nicolaus lowered his price target on Royal Bank of Canada from C$152.00 to C$150.00 in a Friday, April 8 research report. Finally, TD Securities lowered its price target on Royal Bank of Canada from C$150.00 to C$145.00 in a Friday, May 27 research report. Two investment analysts gave the stock a sell rating, four gave the company a hold rating and ten gave the company a buy rating. According to data from MarketBeat.com, Royal Bank of Canada currently has a moderate average buy rating and an average price target of $143.84.
Shares of NYSE RY opened at $94.97 on Thursday. Royal Bank of Canada has a 12-month low of $94.23 and a 12-month high of $119.41. The company has a market capitalization of $133.29 billion, a price/earnings ratio of 10.39, a P/E/G ratio of 2.15 and a beta of 0.90. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt ratio of 0.11. The company has a fifty-day simple moving average of $101.45 and a 200-day simple moving average of $107.00.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 24. Shareholders of record on Tuesday, July 26 will receive a dividend of $0.995. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.94. This represents an annualized dividend of $3.98 and a yield of 4.19%. The ex-dividend date is Monday, July 25. Royal Bank of Canada’s dividend payout ratio is currently 42.01%.
Several institutional investors and hedge funds have recently increased or reduced their stake in RY. Blue Bell Private Wealth Management LLC purchased a new stake in shares of Royal Bank of Canada during the 4th quarter worth approximately $37,000. Stonehage Fleming Financial Services Holdings Ltd increased its stake in Royal Bank of Canada shares by 54.0% during the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 385 shares of the financial services provider worth $40,000 after acquiring a further 135 shares in the last quarter. JW Cole Advisors Inc. purchased a new stake in shares of Royal Bank of Canada during Q1 for approximately $44,000. Allegheny Financial Group LTD bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth approximately $48,000. Finally, JFS Wealth Advisors LLC increased its holding in shares of Royal Bank of Canada by 272.4% during the 1st quarter. JFS Wealth Advisors LLC now owns 473 shares of the financial services provider worth $52,000 after acquiring 346 additional shares in the last quarter. Institutional investors hold 41.50% of the company’s shares.
About Royal Bank of Canada (Get a rating)
Royal Bank of Canada is a globally diversified financial services company. The Company’s Personal and Commercial Banking segment offers checking and savings accounts, home equity financing, personal loans, private banking, indirect loans, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, commercial products and services to small and medium commercial enterprises.
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