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

Key Points

• Royal Bank of Canada has a consensus “Moderate Buy” rating from 14 analysts: eight recommend buying, five advise holding, and one rates it a strong buy. The average 12-month price target is $225.
• RBC exceeded quarterly expectations, reporting $3.07 EPS versus the $2.89 consensus and revenue of $13.22 billion versus estimates of $12.98 billion.
• The bank declared a quarterly dividend of $1.76 per share, equivalent to $7.04 annually and a 3.3% yield; institutional investors own 45.31% of the stock.

Shares of Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY have been given a consensus rating of "Moderate Buy" by the fourteen ratings firms that are currently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $225.00.

A number of research firms have recently issued reports on RY. Weiss Ratings upgraded Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, July 29th. Raymond James Financial downgraded shares of Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 12th. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. Scotiabank restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 28th. Finally, TD Securities reaffirmed a "buy" rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th.

Institutional Investors Weigh In On Royal Bank Of Canada

Large investors have recently modified their holdings of the stock. Cornerstone Financial Management LLC lifted its position in shares of Royal Bank Of Canada by 45.2% during the 2nd quarter. Cornerstone Financial Management LLC now owns 212 shares of the financial services provider's stock worth $44,000 after buying an additional 66 shares during the period. HB Wealth Management LLC grew its position in Royal Bank Of Canada by 1.3% in the second quarter. HB Wealth Management LLC now owns 6,830 shares of the financial services provider's stock valued at $1,414,000 after acquiring an additional 85 shares during the period. Rose Capital Advisors LLC bought a new stake in Royal Bank Of Canada in the second quarter valued at $599,000. Highland Investment Advisors LLC acquired a new position in Royal Bank Of Canada during the second quarter worth $31,000. Finally, Syon Capital LLC raised its stake in Royal Bank Of Canada by 2.3% during the second quarter. Syon Capital LLC now owns 11,763 shares of the financial services provider's stock worth $2,435,000 after acquiring an additional 270 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Stock Up 2.0%

NYSE RY opened at $211.95 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50-day simple moving average of $209.37 and a 200 day simple moving average of $189.01. Royal Bank Of Canada has a twelve month low of $143.13 and a twelve month high of $218.57. The stock has a market cap of $293.89 billion, a PE ratio of 18.54, a PEG ratio of 1.83 and a beta of 0.79.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.18. The firm had revenue of $13.22 billion for the quarter, compared to analyst estimates of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. On average, research analysts forecast that Royal Bank Of Canada will post 12.07 EPS for the current year.

Royal Bank Of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be paid a dividend of $1.76 per share. The ex-dividend date is Monday, October 26th. 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 currently 43.39%.

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.

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