Royal Bank Of Canada (NYSE:RY) Reaches New 52-Week High - What's Next?

Key Points

• Shares hit a new 52-week high of $182.15 (last $181.70) and are trading well above analysts' average target of $162; MarketBeat's consensus is a "Moderate Buy" (11 Buys, 3 Holds).
• Quarterly results beat expectations: EPS $2.94 vs $2.81 expected and revenue $13.18B vs $12.60B, with revenue up 4.4% year-over-year and ROE of 17.12%.
• Attractive dividend: RBC declared a $1.64 quarterly dividend (annualized $6.56) for a 3.6% yield, with an ex-dividend date of April 23 and payout ratio around 45%.

Shares of Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY reached a new 52-week high during trading on Thursday . The company traded as high as $182.15 and last traded at $181.7020, with a volume of 749819 shares. The stock had previously closed at $178.48.

Analyst Ratings Changes

A number of equities analysts have commented on RY shares. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Raymond James Financial reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Friday, February 13th. Zacks Research cut shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 3rd. Weiss Ratings reissued a "buy (b+)" rating on shares of Royal Bank Of Canada in a research note on Monday. Finally, Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Monday. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $162.00.

Royal Bank Of Canada Stock Up 1.8%

The company has a market cap of $253.96 billion, a PE ratio of 17.39, a PEG ratio of 1.34 and a beta of 0.80. The stock's 50 day moving average price is $168.53 and its 200-day moving average price is $163.96. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.81 by $0.13. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The company had revenue of $13.18 billion during the quarter, compared to analysts' expectations of $12.60 billion. During the same quarter in the prior year, the company earned $3.62 EPS. The firm's revenue was up 4.4% on a year-over-year basis. On average, analysts predict that Royal Bank Of Canada will post 11.57 earnings per share for the current year.

Royal Bank Of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd will be paid a $1.64 dividend. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.6%. Royal Bank Of Canada's dividend payout ratio is 45.17%.

Institutional Investors Weigh In On Royal Bank Of Canada

A number of institutional investors have recently made changes to their positions in the business. Florida Trust Wealth Management Co boosted its stake in shares of Royal Bank Of Canada by 2.8% in the 4th quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider's stock valued at $373,000 after purchasing an additional 60 shares in the last quarter. Echo45 Advisors LLC boosted its position in Royal Bank Of Canada by 5.0% during the 1st quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider's stock valued at $204,000 after buying an additional 60 shares during the period. Fiduciary Financial Group LLC boosted its position in Royal Bank Of Canada by 3.4% during the 4th quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider's stock valued at $320,000 after buying an additional 61 shares during the period. Key Financial Inc boosted its position in Royal Bank Of Canada by 63.0% during the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider's stock valued at $26,000 after buying an additional 63 shares during the period. Finally, Alta Capital Management LLC boosted its position in Royal Bank Of Canada by 4.0% during the 4th quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider's stock valued at $287,000 after buying an additional 65 shares during the period. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Company Profile

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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