Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) has earned a consensus recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $142.30.
A number of equities analysts recently weighed in on the company. Bank of America raised Royal Bank of Canada from an “underperform” rating to a “neutral” rating in a research note on Monday, December 12th. Desjardins lifted their price objective on shares of Royal Bank of Canada from C$140.00 to C$145.00 in a research report on Thursday, December 1st. Keefe, Bruyette & Woods upgraded Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a report on Thursday, December 1st. National Bank Financial dropped their price target on Royal Bank of Canada from C$148.00 to C$147.00 in a research report on Thursday, December 1st. Finally, Canaccord Genuity Group upped their price objective on shares of Royal Bank of Canada from C$131.00 to C$136.00 and gave the company a “buy” rating in a research note on Thursday, December 1st.
Royal Bank of Canada Price Performance
Shares of NYSE:RY opened at $100.27 on Friday. The stock has a fifty day moving average of $96.99 and a 200-day moving average of $95.36. The company has a market capitalization of $138.94 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.76 and a beta of 0.84. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.88 and a current ratio of 0.88. Royal Bank of Canada has a one year low of $83.63 and a one year high of $119.41.
Royal Bank of Canada Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, February 24th. Stockholders of record on Thursday, January 26th will be paid a dividend of $0.9832 per share. The ex-dividend date is Wednesday, January 25th. This represents a $3.93 annualized dividend and a dividend yield of 3.92%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 43.02%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Royal Bank of Canada by 5.3% in the first quarter. BlackRock Inc. now owns 817,482 shares of the financial services provider’s stock worth $90,144,000 after buying an additional 41,346 shares during the last quarter. Raymond James Trust N.A. grew its position in shares of Royal Bank of Canada by 5.7% in the first quarter. Raymond James Trust N.A. now owns 7,030 shares of the financial services provider’s stock valued at $775,000 after purchasing an additional 382 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Royal Bank of Canada by 2.0% in the first quarter. Blair William & Co. IL now owns 23,498 shares of the financial services provider’s stock worth $2,591,000 after purchasing an additional 458 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Royal Bank of Canada by 47.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 4,942 shares of the financial services provider’s stock valued at $545,000 after purchasing an additional 1,582 shares during the period. Finally, Thomas White International Ltd. grew its holdings in Royal Bank of Canada by 4.6% in the 1st quarter. Thomas White International Ltd. now owns 15,778 shares of the financial services provider’s stock valued at $1,740,000 after buying an additional 701 shares during the last quarter. 41.19% of the stock is owned by institutional investors.
About Royal Bank of Canada
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Royal Bank of Canada operates as a diversified financial service company. The company operates through five segments: Personal & Commercial Banking, Wealth Management, Insurance, Investor & Treasury, and Capital Markets. The Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions, as well as indirect lending, including auto financing; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.
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