Analysts Set Royal Bank Of Canada (NYSE:RY) Price Target at $225.00

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $225.00.

A number of research firms have weighed in on RY. Argus set a $225.00 price target on Royal Bank Of Canada in a research report on Thursday, June 11th. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Finally, Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th.

Institutional Investors Weigh In On Royal Bank Of Canada

A number of hedge funds have recently made changes to their positions in RY. Brighton Jones LLC raised its position in Royal Bank Of Canada by 33.1% in the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 575 shares during the period. AQR Capital Management LLC boosted its position in Royal Bank Of Canada by 60.9% during the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock valued at $1,321,000 after buying an additional 4,460 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Royal Bank Of Canada by 57.7% during the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after buying an additional 1,934 shares during the last quarter. Baird Financial Group Inc. grew its stake in shares of Royal Bank Of Canada by 39.1% during the second quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock valued at $1,783,000 after buying an additional 3,811 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Royal Bank Of Canada by 9.0% in the second quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock worth $6,279,000 after buying an additional 3,928 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Price Performance

RY stock opened at $215.58 on Thursday. The firm has a 50 day simple moving average of $198.12 and a two-hundred day simple moving average of $179.45. The stock has a market cap of $298.93 billion, a PE ratio of 19.37, a P/E/G ratio of 1.71 and a beta of 0.80. Royal Bank Of Canada has a one year low of $127.38 and a one year high of $218.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The firm had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter last year, the company posted $3.12 EPS. The business’s quarterly revenue was up 11.4% on a year-over-year basis. On average, analysts predict that Royal Bank Of Canada will post 11.45 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a yield of 3.3%. Royal Bank Of Canada’s dividend payout ratio (DPR) is 44.47%.

Royal Bank Of Canada Company Profile

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.