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

Royal Bank of Canada (NYSE:RY) (TSE:RY) has earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $137.67.

RY has been the topic of a number of recent research reports. Jefferies Financial Group began coverage on Royal Bank of Canada in a research note on Thursday, February 22nd. They set a “hold” rating on the stock. Barclays started coverage on Royal Bank of Canada in a report on Wednesday, March 20th. They issued an “equal weight” rating for the company. BMO Capital Markets raised shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $140.00 to $150.00 in a research report on Friday, April 5th. Finally, StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, February 6th.

Hedge Funds Weigh In On Royal Bank of Canada

Large investors have recently modified their holdings of the stock. Altrius Capital Management Inc raised its holdings in shares of Royal Bank of Canada by 3.3% during the fourth quarter. Altrius Capital Management Inc now owns 67,790 shares of the financial services provider’s stock worth $6,856,000 after purchasing an additional 2,165 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Royal Bank of Canada by 3.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 480,825 shares of the financial services provider’s stock worth $48,863,000 after acquiring an additional 15,041 shares during the last quarter. Triasima Portfolio Management inc. boosted its stake in Royal Bank of Canada by 5.5% in the fourth quarter. Triasima Portfolio Management inc. now owns 984,891 shares of the financial services provider’s stock valued at $99,785,000 after acquiring an additional 50,995 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Royal Bank of Canada by 163.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 160,595 shares of the financial services provider’s stock worth $16,271,000 after purchasing an additional 99,523 shares during the period. Finally, Addenda Capital Inc. lifted its holdings in shares of Royal Bank of Canada by 2.1% in the 4th quarter. Addenda Capital Inc. now owns 836,019 shares of the financial services provider’s stock worth $84,547,000 after purchasing an additional 16,964 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

NYSE RY opened at $101.81 on Tuesday. The business’s 50-day simple moving average is $99.24 and its 200-day simple moving average is $95.51. The firm has a market capitalization of $144.04 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.74 and a beta of 0.86. Royal Bank of Canada has a 1-year low of $77.90 and a 1-year high of $103.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.05. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. The company had revenue of $9.98 billion during the quarter, compared to the consensus estimate of $10.10 billion. Equities analysts predict that Royal Bank of Canada will post 8.45 EPS for the current year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be issued a dividend of $1.0207 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 annualized dividend and a yield of 4.01%. The ex-dividend date is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 25.31%.

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.