Royal Bank Of Canada (NYSE:RY) Sets New 12-Month High - Still a Buy?

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY shares hit a new 52-week high on Thursday . The company traded as high as $134.26 and last traded at $134.20, with a volume of 4204977 shares trading hands. The stock had previously closed at $133.15.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RY shares. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a report on Monday, June 9th. National Bank Financial downgraded shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Cibc World Mkts raised shares of Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Wall Street Zen downgraded Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. Finally, Scotiabank began coverage on shares of Royal Bank Of Canada in a report on Thursday, May 15th. They issued a "sector outperform" rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $193.00.

Royal Bank Of Canada Trading Down 0.4%

The business has a 50-day simple moving average of $129.29 and a 200-day simple moving average of $121.47. The company has a market cap of $186.99 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.52 and a beta of 0.89. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued 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). The firm had revenue of $11.38 billion for the quarter, compared to analyst estimates of $15.77 billion. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The business's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.92 EPS. On average, analysts predict that Royal Bank Of Canada will post 9.16 EPS 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. Investors of record on Thursday, July 24th will be given a $1.1152 dividend. The ex-dividend date of this dividend is Thursday, July 24th. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.36%. Royal Bank Of Canada's dividend payout ratio is 45.67%.

Institutional Investors Weigh In On Royal Bank Of Canada

A number of institutional investors and hedge funds have recently made changes to their positions in RY. Norges Bank purchased a new position in shares of Royal Bank Of Canada during the 4th quarter worth approximately $2,425,519,000. Goldman Sachs Group Inc. raised its holdings 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 purchasing an additional 3,990,839 shares during the period. Vanguard Group Inc. lifted its position in Royal Bank Of Canada by 5.7% during 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 buying an additional 3,387,971 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Royal Bank Of Canada by 104.6% during the first quarter. Canada Pension Plan Investment Board now owns 6,346,768 shares of the financial services provider's stock valued at $715,043,000 after buying an additional 3,244,266 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of 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 purchasing an additional 1,991,364 shares during the period. 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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