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

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY has been assigned an average recommendation of "Moderate Buy" from the seven ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $193.00.

A number of research analysts have recently weighed in on the company. Cibc World Mkts upgraded Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Barclays reiterated 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 set a "sector outperform" rating on the stock. Wall Street Zen lowered Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. Finally, CIBC reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th.

Institutional Trading of Royal Bank Of Canada

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of 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 valued at $7,048,307,000 after purchasing an additional 3,387,971 shares in the last quarter. TD Asset Management Inc grew its position in shares of Royal Bank Of Canada by 0.9% in the first quarter. TD Asset Management Inc now owns 31,515,404 shares of the financial services provider's stock valued at $3,549,520,000 after purchasing an additional 277,466 shares in the last quarter. Norges Bank purchased a new position in shares of Royal Bank Of Canada in the fourth quarter valued at $2,425,519,000. Bank of Nova Scotia grew its position in shares of Royal Bank Of Canada by 8.0% in the first quarter. Bank of Nova Scotia now owns 16,802,214 shares of the financial services provider's stock valued at $1,892,975,000 after purchasing an additional 1,249,589 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec grew its position in shares of Royal Bank Of Canada by 3.4% in the first quarter. Federation des caisses Desjardins du Quebec now owns 12,656,362 shares of the financial services provider's stock valued at $1,423,464,000 after purchasing an additional 420,466 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Up 0.5%

Shares of RY stock traded up $0.63 during trading hours on Friday, reaching $132.39. The company had a trading volume of 1,541,691 shares, compared to its average volume of 1,139,686. 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. The business has a fifty day simple moving average of $126.92 and a 200-day simple moving average of $120.64. The company has a market cap of $186.75 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 1.51 and a beta of 0.89.

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

Royal Bank Of Canada Increases Dividend

The company 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 $1.1152 dividend. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. This represents a $4.46 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio (DPR) is currently 45.67%.

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 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.