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Royal Bank of Canada (NYSE:RY) Short Interest Update

Last updated on Sunday, November 22, 2020 | 2020 MarketBeat

Royal Bank of Canada (NYSE:RY) (TSE:RY) saw a large increase in short interest in the month of October. As of October 30th, there was short interest totalling 5,780,000 shares, an increase of 14.2% from the October 15th total of 5,060,000 shares. Based on an average daily volume of 747,100 shares, the days-to-cover ratio is presently 7.7 days. Currently, 0.4% of the company's shares are short sold.

Several brokerages recently commented on RY. CIBC downgraded Royal Bank of Canada from an "outperform" rating to a "neutral" rating in a report on Thursday. Veritas Investment Research upgraded Royal Bank of Canada from a "sell" rating to a "buy" rating in a report on Thursday, October 29th. Credit Suisse Group raised their target price on Royal Bank of Canada from $103.00 to $104.00 and gave the company an "outperform" rating in a report on Thursday, August 27th. Barclays raised their target price on Royal Bank of Canada from $108.00 to $112.00 and gave the company an "overweight" rating in a report on Thursday, November 12th. Finally, Zacks Investment Research upgraded Royal Bank of Canada from a "hold" rating to a "buy" rating and set a $89.00 target price on the stock in a report on Friday. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Royal Bank of Canada currently has a consensus rating of "Buy" and an average price target of $102.29.

Several institutional investors and hedge funds have recently modified their holdings of the company. Stephens Inc. AR boosted its position in Royal Bank of Canada by 0.4% during the 2nd quarter. Stephens Inc. AR now owns 41,773 shares of the financial services provider's stock valued at $1,166,000 after purchasing an additional 148 shares during the period. Community Bank N.A. boosted its position in Royal Bank of Canada by 1.0% during the 2nd quarter. Community Bank N.A. now owns 15,315 shares of the financial services provider's stock valued at $1,038,000 after purchasing an additional 150 shares during the period. Creative Financial Designs Inc. ADV boosted its position in Royal Bank of Canada by 1.8% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 8,524 shares of the financial services provider's stock valued at $598,000 after purchasing an additional 150 shares during the period. Glassman Wealth Services boosted its position in Royal Bank of Canada by 2.1% during the 3rd quarter. Glassman Wealth Services now owns 7,173 shares of the financial services provider's stock valued at $503,000 after purchasing an additional 150 shares during the period. Finally, Aviance Capital Partners LLC boosted its position in Royal Bank of Canada by 4.3% during the 2nd quarter. Aviance Capital Partners LLC now owns 3,672 shares of the financial services provider's stock valued at $249,000 after purchasing an additional 152 shares during the period. Institutional investors own 40.16% of the company's stock.

RY stock traded up $0.05 during midday trading on Friday, hitting $79.74. 580,222 shares of the company's stock were exchanged, compared to its average volume of 1,163,078. The stock has a market capitalization of $113.54 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 1.84 and a beta of 0.94. The firm has a 50 day moving average price of $73.59 and a 200-day moving average price of $70.20. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. Royal Bank of Canada has a 12-month low of $49.55 and a 12-month high of $82.74.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 26th. The financial services provider reported $1.63 EPS for the quarter, topping the consensus estimate of $1.26 by $0.37. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $8.72 billion. Royal Bank of Canada had a return on equity of 14.86% and a net margin of 17.78%. On average, sell-side analysts forecast that Royal Bank of Canada will post 5.68 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be given a $0.805 dividend. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $0.78. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $3.22 annualized dividend and a dividend yield of 4.04%. Royal Bank of Canada's dividend payout ratio (DPR) is presently 48.43%.

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 check and savings accounts, credit cards, mortgages, loans, investment products, payments, international trade, and business advice services. This segment offers financial products and services through branches, automated teller machines, and mobile sales network.

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