Royal Bank Of Canada (NYSE:RY) Short Interest Update

Royal Bank Of Canada (NYSE:RY) (TSE:RY) was the target of a significant drop in short interest during the month of September. As of September 15th, there was short interest totaling 4,670,000 shares, a drop of 29.9% from the August 31st total of 6,660,000 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average trading volume of 1,090,000 shares, the short-interest ratio is presently 4.3 days. Based on an average trading volume of 1,090,000 shares, the short-interest ratio is presently 4.3 days. Approximately 0.3% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RY. BMO Capital Markets restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Cibc World Mkts lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. Argus boosted their price objective on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Saturday, September 27th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.50.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $145.93 on Wednesday. The firm’s fifty day simple moving average is $141.18 and its 200-day simple moving average is $129.85. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a market cap of $205.08 billion, a PE ratio of 15.41, a price-to-earnings-growth ratio of 1.49 and a beta of 0.86. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $149.26.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.43. The business had revenue of $12.26 billion during the quarter, compared to the consensus estimate of $16.03 billion. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm posted $3.26 EPS. Analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Royal Bank Of Canada

A number of large investors have recently made changes to their positions in the stock. Trust Co of the South increased its holdings in shares of Royal Bank Of Canada by 0.3% in the 2nd quarter. Trust Co of the South now owns 25,121 shares of the financial services provider’s stock valued at $3,305,000 after purchasing an additional 78 shares in the last quarter. Brucke Financial Inc. increased its holdings in shares of Royal Bank Of Canada by 1.9% in the 2nd quarter. Brucke Financial Inc. now owns 4,264 shares of the financial services provider’s stock valued at $561,000 after purchasing an additional 79 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Royal Bank Of Canada by 13.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 84 shares in the last quarter. Choreo LLC boosted its position in shares of Royal Bank Of Canada by 4.2% in the 2nd quarter. Choreo LLC now owns 2,088 shares of the financial services provider’s stock worth $275,000 after buying an additional 84 shares in the last quarter. Finally, Contravisory Investment Management Inc. boosted its position in shares of Royal Bank Of Canada by 4.3% in the 2nd quarter. Contravisory Investment Management Inc. now owns 2,041 shares of the financial services provider’s stock worth $268,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Company Profile

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.