Royal Bank Of Canada (NYSE:RY) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Royal Bank of Canada, with nine buy ratings, four holds, and one strong buy. The average 12-month price target is $225, compared with the reported share price of $211.22.
• RBC exceeded quarterly expectations, reporting $2.84 in EPS versus the $2.81 estimate and $12.84 billion in revenue, up 11.4% year over year.
• The bank increased its quarterly dividend to $1.76 per share, or $7.04 annualized, implying a 3.3% yield and a 44.56% payout ratio; institutional investors own 45.31% of the stock.

Shares of Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY have been given an average rating of "Moderate Buy" by the fourteen brokerages that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $225.00.

RY has been the subject of a number of research reports. Raymond James Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 12th. Argus set a $225.00 target price on Royal Bank Of Canada in a research report on Thursday, June 11th. TD Securities restated a "buy" rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Finally, Weiss Ratings raised shares of Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, July 29th.

Institutional Investors Weigh In On Royal Bank Of Canada

Several institutional investors have recently bought and sold shares of RY. First National Bank of Omaha bought a new position in Royal Bank Of Canada during the 2nd quarter worth approximately $6,841,000. Timothy G. Youngquist 2020 Irrevocable Trust lifted its position in Royal Bank Of Canada by 15.9% in the second quarter. Timothy G. Youngquist 2020 Irrevocable Trust now owns 4,741 shares of the financial services provider's stock valued at $981,000 after purchasing an additional 650 shares during the last quarter. M. Kulyk & Associates LLC purchased a new stake in shares of Royal Bank Of Canada during the second quarter valued at approximately $2,953,000. K.J. Harrison & Partners Inc purchased a new stake in shares of Royal Bank Of Canada during the second quarter valued at approximately $23,334,000. Finally, MidFirst Bank bought a new position in shares of Royal Bank Of Canada in the second quarter worth approximately $5,298,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Trading Up 0.1%

NYSE RY opened at $211.22 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $292.87 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 1.68 and a beta of 0.80. Royal Bank Of Canada has a one year low of $132.27 and a one year high of $218.57. The business's fifty day moving average is $205.30 and its 200-day moving average is $183.74.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The firm had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. During the same period in the prior year, the firm earned $3.12 EPS. The company's revenue was up 11.4% compared to the same quarter last year. Equities research analysts predict that Royal Bank Of Canada will post 11.41 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be paid a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.3%. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada's payout ratio is 44.56%.

About Royal Bank Of Canada

Royal Bank of Canada NYSE: RY is a diversified financial services company and one of Canada's largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.

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