Royal Bank Of Canada (NYSE:RY) Hits New 1-Year High - Should You Buy?

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY shares hit a new 52-week high on Thursday . The stock traded as high as $130.42 and last traded at $130.17, with a volume of 339764 shares changing hands. The stock had previously closed at $128.07.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RY shares. National Bank Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. CIBC reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. Wall Street Zen lowered Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. Scotiabank initiated coverage on shares of Royal Bank Of Canada in a report on Thursday, May 15th. They issued a "sector outperform" rating for the company. Finally, Cibc World Mkts raised shares of Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $193.00.

Royal Bank Of Canada Trading Up 1.7%

The company has a market cap of $183.64 billion, a P/E ratio of 14.47, a PEG ratio of 1.48 and a beta of 0.89. 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's 50 day moving average is $124.16 and its 200-day moving average is $120.09.

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 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The business had revenue of $11.38 billion during the quarter, compared to the consensus estimate of $15.77 billion. During the same period in the previous year, the business posted $2.92 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts anticipate 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 declared 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. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date is Thursday, July 24th. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's dividend payout ratio (DPR) is presently 45.67%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RY. Norges Bank bought a new stake in Royal Bank Of Canada in the 4th quarter worth approximately $2,425,519,000. Goldman Sachs Group Inc. boosted its stake in shares of Royal Bank Of Canada by 129.9% in 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 buying an additional 3,990,839 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Royal Bank Of Canada by 5.7% in 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 buying an additional 3,387,971 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of 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 acquiring an additional 3,244,266 shares during the period. Finally, Geode Capital Management LLC increased its position in Royal Bank Of Canada by 31.2% during the fourth quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider's stock valued at $1,027,061,000 after acquiring an additional 1,991,364 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

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.

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