Short Interest in Royal Bank Of Canada (NYSE:RY) Increases By 45.2%

Royal Bank Of Canada (NYSE:RY) (TSE:RY) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 8,710,000 shares, an increase of 45.2% from the September 30th total of 6,000,000 shares. Based on an average daily volume of 1,020,000 shares, the days-to-cover ratio is currently 8.5 days. Currently, 0.6% of the shares of the stock are sold short. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily volume of 1,020,000 shares, the days-to-cover ratio is currently 8.5 days.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Zacks Research downgraded Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. National Bankshares restated a “sector perform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $177.50.

Hedge Funds Weigh In On Royal Bank Of Canada

Hedge funds have recently modified their holdings of the company. Toth Financial Advisory Corp purchased a new stake in shares of Royal Bank Of Canada during the third quarter worth about $29,000. True Wealth Design LLC purchased a new position in Royal Bank Of Canada during the 3rd quarter valued at about $31,000. Caitong International Asset Management Co. Ltd purchased a new position in Royal Bank Of Canada during the 1st quarter valued at about $32,000. Atlantic Union Bankshares Corp purchased a new position in Royal Bank Of Canada during the 3rd quarter valued at about $38,000. Finally, Cullen Frost Bankers Inc. increased its holdings in Royal Bank Of Canada by 295.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 257 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Down 1.2%

RY opened at $145.71 on Wednesday. The company has a market cap of $204.53 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.48 and a beta of 0.86. The business’s 50-day moving average price is $146.14 and its 200-day moving average price is $134.69. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $149.44.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, topping the consensus estimate of $2.36 by $0.43. The firm had revenue of $12.26 billion for the quarter, compared to the consensus estimate of $16.03 billion. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The company’s quarterly revenue was up 16.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.26 earnings per share. On average, equities analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

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.