Royal Bank Of Canada (NYSE:RY) Sets New 1-Year High - What's Next?

Key Points

• Royal Bank of Canada hit a new 52-week high at $180.90 (last $180.66), trading above the MarketBeat average target of $162 and carrying a consensus rating of "Moderate Buy" (11 Buys, 3 Holds).
• Q4 results beat estimates: RBC posted EPS of $2.94 versus $2.81 expected and revenue of $13.18B versus $12.60B, with revenue up 4.4% year-over-year.
• Attractive dividend — the bank declared a quarterly dividend of $1.64 ($6.56 annualized) for a yield of 3.6%, with an ex-dividend date of April 23 and a payout ratio around 45%.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY shares reached a new 52-week high during trading on Friday . The stock traded as high as $180.90 and last traded at $180.6620, with a volume of 114978 shares. The stock had previously closed at $179.97.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RY shares. Zacks Research downgraded Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a report on Tuesday, February 3rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. Raymond James Financial reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Friday, February 13th. Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Finally, Scotiabank reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Friday, January 9th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

Royal Bank Of Canada Price Performance

The stock has a fifty day moving average price of $168.19 and a 200-day moving average price of $163.22. The firm has a market capitalization of $251.36 billion, a PE ratio of 17.21, a P/E/G ratio of 1.32 and a beta of 0.78. 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 results 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 return on equity of 17.12% and a net margin of 15.28%.The business had revenue of $13.18 billion for the quarter, compared to the consensus estimate of $12.60 billion. During the same period last year, the business posted $3.62 EPS. The business's revenue was up 4.4% compared to the same quarter last year. Sell-side analysts forecast that Royal Bank Of Canada will post 11.56 EPS for the current fiscal 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 given 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 (DPR) is presently 45.17%.

Institutional Trading of Royal Bank Of Canada

Institutional investors have recently made changes to their positions in the business. Harvest Fund Management Co. Ltd acquired a new stake in shares of Royal Bank Of Canada in the 4th quarter worth $25,000. Tradewinds Capital Management LLC acquired a new stake in shares of Royal Bank Of Canada in the 4th quarter worth $26,000. Key Financial Inc boosted its position in shares of Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider's stock worth $26,000 after purchasing an additional 63 shares in the last quarter. Maseco LLP boosted its position in shares of Royal Bank Of Canada by 355.0% in the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider's stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Finally, Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada in the 3rd quarter worth $27,000. Institutional investors and hedge funds own 45.31% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.