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

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) has received a consensus recommendation of “Hold” from the fifteen analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $139.54.

Several equities analysts have recently commented on the company. BMO Capital Markets cut their price target on Royal Bank of Canada from C$142.00 to C$140.00 in a research note on Friday, May 27th. Keefe, Bruyette & Woods lowered Royal Bank of Canada from a “market perform” rating to an “underperform” rating and cut their price target for the company from C$132.00 to C$118.00 in a research note on Monday, August 8th. Canaccord Genuity Group cut their price target 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. National Bank Financial raised their price target on Royal Bank of Canada from C$147.00 to C$148.00 in a research note on Thursday, August 25th. Finally, Credit Suisse Group cut their price target on Royal Bank of Canada from C$144.00 to C$143.00 in a research note on Thursday, August 25th.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at $93.64 on Monday. The firm has a market cap of $130.42 billion, a P/E ratio of 10.80, a P/E/G ratio of 2.49 and a beta of 0.87. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.10. Royal Bank of Canada has a 12 month low of $90.75 and a 12 month high of $119.41. The stock’s fifty day moving average price is $96.85 and its 200-day moving average price is $102.67.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 24th. Stockholders of record on Wednesday, October 26th will be paid a $1.00 dividend. This represents a $4.00 annualized dividend and a dividend yield of 4.27%. This is a boost 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 45.91%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RY. Norges Bank purchased a new position in Royal Bank of Canada during the fourth quarter valued at approximately $1,635,969,000. Wellington Management Group LLP raised its position in Royal Bank of Canada by 265.8% during the first quarter. Wellington Management Group LLP now owns 19,835,260 shares of the financial services provider’s stock valued at $2,185,770,000 after acquiring an additional 14,412,851 shares in the last quarter. Beutel Goodman & Co Ltd. raised its position in Royal Bank of Canada by 32.9% during the first quarter. Beutel Goodman & Co Ltd. now owns 11,225,245 shares of the financial services provider’s stock valued at $1,236,429,000 after acquiring an additional 2,779,909 shares in the last quarter. Bank of Montreal Can raised its position in Royal Bank of Canada by 4.2% during the second quarter. Bank of Montreal Can now owns 65,946,059 shares of the financial services provider’s stock valued at $6,817,816,000 after acquiring an additional 2,687,026 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its position in Royal Bank of Canada by 257.6% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,580,147 shares of the financial services provider’s stock valued at $346,640,000 after acquiring an additional 2,579,121 shares in the last quarter. 40.46% of the stock is currently owned by hedge funds and other institutional investors.

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.

Recommended Stories

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

Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.