Royal Bank of Canada (NYSE:RY) Receives Average Rating of “Buy” from Analysts

Royal Bank of Canada (NYSE:RY) (TSE:RY) has received a consensus rating of “Buy” from the eight research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $156.50.

A number of research firms have recently commented on RY. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, May 9th. CIBC raised shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research note on Friday, April 4th. Scotiabank assumed coverage on shares of Royal Bank of Canada in a research note on Thursday. They issued a “sector outperform” rating on the stock. Finally, Cibc World Mkts raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd.

Institutional Trading of Royal Bank of Canada

A number of hedge funds have recently bought and sold shares of RY. Park Square Financial Group LLC acquired a new position in shares of Royal Bank of Canada during the 4th quarter worth approximately $25,000. Roxbury Financial LLC purchased a new position in Royal Bank of Canada during the fourth quarter worth approximately $29,000. WealthTrak Capital Management LLC acquired a new position in Royal Bank of Canada during the fourth quarter worth $28,000. Sunbelt Securities Inc. boosted its stake in Royal Bank of Canada by 2,272.7% during the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock worth $29,000 after buying an additional 250 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Royal Bank of Canada in the 1st quarter worth $32,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

NYSE:RY opened at $125.80 on Friday. Royal Bank of Canada has a 52 week low of $102.44 and a 52 week high of $128.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $177.58 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.80 and a beta of 0.89. The stock’s 50-day moving average price is $115.99 and its 200-day moving average price is $119.37.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is presently 46.18%.

About Royal Bank of Canada

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.