Royal Bank Of Canada (NYSE:RY) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $162.00.

RY has been the topic of a number of recent research reports. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, January 9th. Raymond James Financial restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, February 13th. BMO Capital Markets restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Wednesday, December 17th. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. Finally, Zacks Research lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd.

Royal Bank Of Canada Price Performance

NYSE:RY opened at $164.40 on Tuesday. The firm has a market cap of $229.78 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 1.23 and a beta of 0.78. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average is $166.40 and its two-hundred day moving average is $159.86. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $176.19.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.13. The company had revenue of $13.18 billion for the quarter, compared to analyst estimates of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.62 EPS. Research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio is presently 45.74%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Florida Trust Wealth Management Co lifted its holdings in shares of Royal Bank Of Canada by 2.8% during the 4th quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock worth $373,000 after acquiring an additional 60 shares during the period. Fiduciary Financial Group LLC lifted its holdings in shares of Royal Bank Of Canada by 3.4% during the 4th quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 61 shares during the period. Alta Capital Management LLC lifted its holdings in shares of Royal Bank Of Canada by 4.0% during the 4th quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 65 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Royal Bank Of Canada by 1.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock worth $713,000 after acquiring an additional 74 shares during the period. Finally, Advisory Resource Group lifted its holdings in shares of Royal Bank Of Canada by 0.8% during the 3rd quarter. Advisory Resource Group now owns 9,110 shares of the financial services provider’s stock worth $1,342,000 after acquiring an additional 75 shares during the period. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.