Royal Bank Of Canada (NYSE:RY) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have been given an average recommendation of “Moderate Buy” by the thirteen analysts that are currently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $225.00.

Several equities research analysts recently commented on RY shares. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. Weiss Ratings restated a “buy (a-)” rating on shares of Royal Bank Of Canada in a report on Tuesday. Keefe, Bruyette & Woods started coverage on Royal Bank Of Canada in a report on Friday, August 21st. They set a “market perform” rating on the stock. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 28th.

Institutional Investors Weigh In On Royal Bank Of Canada

A number of large investors have recently bought and sold shares of the stock. Bank of Nova Scotia bought a new stake in shares of Royal Bank Of Canada during the 2nd quarter worth $2,549,157,000. The Manufacturers Life Insurance Company bought a new position in Royal Bank Of Canada in the second quarter valued at $2,296,717,000. Canada Pension Plan Investment Board bought a new position in Royal Bank Of Canada in the second quarter valued at $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Royal Bank Of Canada in the second quarter valued at $2,260,820,000. Finally, Legal & General Group Plc purchased a new stake in Royal Bank Of Canada during the second quarter valued at about $1,645,758,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Down 1.4%

RY opened at $203.05 on Friday. Royal Bank Of Canada has a twelve month low of $143.38 and a twelve month high of $218.57. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average of $201.57 and a 200-day moving average of $189.12. The stock has a market cap of $281.02 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 1.85 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.18. The business had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $12.98 billion. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. On average, sell-side analysts predict that Royal Bank Of Canada will post 11.83 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be paid a dividend of C$1.76 per share. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 annualized dividend and a yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio is currently 43.31%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and provides banking, wealth management, capital markets, insurance and investor services to individuals, businesses, institutions and governments.

RBC’s personal and commercial banking operations offer deposit accounts, lending, mortgages, credit cards, payment services and financial advice. Its wealth management business provides investment management, private banking, trust, brokerage and advisory services, while RBC Capital Markets delivers investment banking, sales and trading, research and corporate finance services.