Royal Bank Of Canada (NYSE:RY) Stock Has Consensus Price Target of $225.00

Key Points

• Analysts maintain a Moderate Buy consensus on Royal Bank of Canada, with seven buy ratings, one strong buy, and five holds. The average 12-month price target is $225, above the reported opening price of $201.17.
• RBC exceeded quarterly expectations, reporting earnings per share of $3.07 versus the $2.89 consensus and revenue of $13.22 billion versus estimates of $12.98 billion.
• The bank declared a quarterly dividend of C$1.76 per share, equivalent to C$7.04 annually and a 3.5% yield; institutional investors own 45.31% of the stock.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY has earned an average rating of "Moderate Buy" from the thirteen brokerages that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $225.00.

RY has been the subject of a number of analyst reports. Weiss Ratings upgraded Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods initiated coverage on Royal Bank Of Canada in a research note on Friday, August 21st. They issued a "market perform" rating for the company. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. TD Securities restated a "buy" rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Finally, Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th.

Royal Bank Of Canada Stock Down 0.4%

Shares of NYSE RY opened at $201.17 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50-day moving average price of $202.23 and a 200-day moving average price of $197.70. The stock has a market capitalization of $278.42 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.81 and a beta of 0.80. Royal Bank Of Canada has a 1 year low of $143.38 and a 1 year high of $218.57.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted 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. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. The company had revenue of $13.22 billion for the quarter, compared to analyst estimates of $12.98 billion. On average, equities research analysts forecast that Royal Bank Of Canada will post 11.83 EPS for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be paid a dividend of C$1.76 per share. The ex-dividend date 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 (DPR) is 43.39%.

Hedge Funds Weigh In On Royal Bank Of Canada

A number of hedge funds have recently bought and sold shares of RY. BOK Financial Private Wealth Inc. purchased a new stake in shares of Royal Bank Of Canada in the second quarter valued at about $28,000. Highland Investment Advisors LLC bought a new position in shares of Royal Bank Of Canada during the second quarter valued at about $31,000. Bell Investment Advisors Inc purchased a new position in Royal Bank Of Canada during the second quarter worth about $32,000. Continuum Advisory LLC purchased a new position in Royal Bank Of Canada during the second quarter worth about $33,000. Finally, Key Financial Inc grew its position in Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider's stock worth $26,000 after purchasing an additional 63 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

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.

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