Brokerages Set Royal Bank Of Canada (NYSE:RY) Price Target at $193.00

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY has been assigned a consensus rating of "Moderate Buy" from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $193.00.

RY has been the topic of a number of analyst reports. CIBC reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. Cibc World Mkts raised Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Wall Street Zen cut Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. Finally, Scotiabank initiated coverage on Royal Bank Of Canada in a research note on Thursday, May 15th. They issued a "sector outperform" rating on the stock.

Royal Bank Of Canada Trading Up 0.5%

Shares of RY traded up $0.63 during mid-day trading on Friday, reaching $132.39. 1,541,691 shares of the company's stock traded hands, compared to its average volume of 1,139,686. The stock has a market cap of $186.75 billion, a P/E ratio of 14.71, a P/E/G ratio of 1.51 and a beta of 0.89. The stock's 50-day moving average is $126.92 and its two-hundred day moving average is $120.64. Royal Bank Of Canada has a 12 month low of $102.89 and a 12 month high of $133.36. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its earnings results on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). The business had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $15.77 billion. Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The company's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.92 EPS. Research analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be given a dividend of $1.1152 per share. This represents a $4.46 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Thursday, July 24th. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's dividend payout ratio (DPR) is 45.67%.

Institutional Trading of Royal Bank Of Canada

Several hedge funds and other institutional investors have recently bought and sold shares of RY. Norges Bank acquired a new stake in Royal Bank Of Canada during the 4th quarter worth about $2,425,519,000. Goldman Sachs Group Inc. grew its position in Royal Bank Of Canada by 129.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,063,761 shares of the financial services provider's stock worth $796,227,000 after purchasing an additional 3,990,839 shares during the period. Vanguard Group Inc. grew its position in Royal Bank Of Canada by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 62,571,520 shares of the financial services provider's stock worth $7,048,307,000 after purchasing an additional 3,387,971 shares during the period. Canada Pension Plan Investment Board grew its position in Royal Bank Of Canada by 104.6% during the 1st quarter. Canada Pension Plan Investment Board now owns 6,346,768 shares of the financial services provider's stock worth $715,043,000 after purchasing an additional 3,244,266 shares during the period. Finally, Geode Capital Management LLC grew its position in Royal Bank Of Canada by 31.2% during the 4th quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider's stock worth $1,027,061,000 after purchasing an additional 1,991,364 shares during the period. Institutional investors own 45.31% of the company's stock.

About Royal Bank Of Canada

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.