Royal Bank Of Canada (NYSE:RY) Short Interest Up 56.9% in August

Key Points

• Short interest in Royal Bank of Canada rose 56.9% to 5.26 million shares as of August 31, representing 0.4% of shares outstanding and a short-interest ratio of 3.6 days.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $225 price target. RBC recently exceeded quarterly earnings and revenue estimates, reporting EPS of $3.07 and revenue of $13.22 billion.
• RBC declared a quarterly dividend of $1.76 per share, or $7.04 annualized, equating to a 3.5% yield and a 43.39% payout ratio.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 5,258,072 shares, a growth of 56.9% from the August 15th total of 3,350,969 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average trading volume of 1,453,841 shares, the short-interest ratio is currently 3.6 days.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on RY shares. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a report on Thursday, June 11th. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 28th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $225.00.

Royal Bank Of Canada Stock Up 0.6%

RY stock traded up $1.28 during trading hours on Thursday, reaching $203.57. 809,453 shares of the stock were exchanged, compared to its average volume of 1,457,696. Royal Bank Of Canada has a 12 month low of $143.13 and a 12 month high of $218.57. The company has a market cap of $282.27 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.83 and a beta of 0.79. 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 firm's 50-day moving average is $209.48 and its 200-day moving average is $191.28.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.89 by $0.18. The company had revenue of $13.22 billion for the quarter, compared to analysts' expectations 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, equities research analysts expect that Royal Bank Of Canada will post 11.83 earnings per share for the current year.

Royal Bank Of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be issued a dividend of $1.76 per share. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. Royal Bank Of Canada's payout ratio is 43.39%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Echo45 Advisors LLC raised its holdings in Royal Bank Of Canada by 5.0% during the first quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider's stock valued at $204,000 after buying an additional 60 shares in the last quarter. Key Financial Inc lifted its holdings 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 during the last quarter. Apella Capital LLC lifted its holdings in Royal Bank Of Canada by 3.1% in the 2nd quarter. Apella Capital LLC now owns 2,155 shares of the financial services provider's stock worth $451,000 after purchasing an additional 64 shares during the last quarter. Cornerstone Financial Management LLC boosted its position in Royal Bank Of Canada by 45.2% during the second quarter. Cornerstone Financial Management LLC now owns 212 shares of the financial services provider's stock worth $44,000 after purchasing an additional 66 shares during the period. Finally, Fiduciary Financial Group LLC boosted its position in Royal Bank Of Canada by 3.5% during the second quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the financial services provider's stock worth $419,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 45.31% of the company's stock.

About Royal Bank Of Canada

Royal Bank of Canada (RBC) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it is one of Canada's largest banks and serves individuals, businesses, institutions and governments.

RBC provides personal and commercial banking products, including deposit accounts, mortgages, consumer and business loans, credit cards and payment services. Through its wealth management operations, the company offers investment advice, brokerage, asset management, trust and estate services, and private banking.

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