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

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY has earned an average recommendation of "Moderate Buy" from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $193.00.

Several analysts recently weighed in on RY shares. Wall Street Zen lowered Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a report on Monday, June 9th. Scotiabank started coverage on Royal Bank Of Canada in a report on Thursday, May 15th. They issued a "sector outperform" rating for the company. Cibc World Mkts raised Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Finally, National Bank Financial lowered Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th.

Royal Bank Of Canada Stock Down 0.1%

Royal Bank Of Canada stock traded down $0.15 during midday trading on Friday, hitting $131.68. The stock had a trading volume of 234,121 shares, compared to its average volume of 1,144,658. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a market cap of $185.75 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.52 and a beta of 0.89. Royal Bank Of Canada has a 12 month low of $102.89 and a 12 month high of $133.36. The business has a fifty day moving average price of $126.43 and a 200 day moving average price of $120.48.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings data on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.05). The firm had revenue of $11.38 billion during 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 firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.92 earnings per share. Research analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th will be issued a dividend of $1.1152 per share. The ex-dividend date of this dividend is Thursday, July 24th. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.03. This represents a $4.46 annualized dividend and a dividend yield of 3.39%. Royal Bank Of Canada's dividend payout ratio is 45.67%.

Hedge Funds Weigh In On Royal Bank Of Canada

Several institutional investors have recently made changes to their positions in RY. Norges Bank bought a new position in Royal Bank Of Canada in the 4th quarter worth approximately $2,425,519,000. Goldman Sachs Group Inc. lifted its position in Royal Bank Of Canada by 129.9% in the first 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. lifted its position in Royal Bank Of Canada by 5.7% in the first 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 lifted its position in Royal Bank Of Canada by 104.6% in the first 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 lifted its position in Royal Bank Of Canada by 31.2% in the fourth 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. 45.31% of the stock is owned by institutional investors.

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.