Royal Bank of Canada (NYSE:RY) Short Interest Up 129.9% in April

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 19,010,000 shares, a growth of 129.9% from the March 31st total of 8,270,000 shares. Based on an average daily trading volume, of 1,380,000 shares, the days-to-cover ratio is presently 13.8 days. Approximately 1.4% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of Royal Bank of Canada from a "sell" rating to a "hold" rating in a research report on Friday, February 28th. CIBC raised shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday, April 4th. Finally, 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. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Royal Bank of Canada has a consensus rating of "Buy" and a consensus price target of $156.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RY. Ruggaard & Associates LLC increased its stake in shares of Royal Bank of Canada by 1.8% during the fourth quarter. Ruggaard & Associates LLC now owns 4,685 shares of the financial services provider's stock worth $565,000 after acquiring an additional 85 shares during the period. Financial Management Professionals Inc. increased its position in Royal Bank of Canada by 26.8% during the fourth quarter. Financial Management Professionals Inc. now owns 426 shares of the financial services provider's stock worth $51,000 after buying an additional 90 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Royal Bank of Canada by 3.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider's stock valued at $345,000 after purchasing an additional 90 shares during the period. Sivia Capital Partners LLC grew its position in shares of Royal Bank of Canada by 2.8% in the first quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider's stock valued at $378,000 after purchasing an additional 91 shares during the period. Finally, Great Lakes Retirement Inc. boosted its holdings in Royal Bank of Canada by 0.8% in the first quarter. Great Lakes Retirement Inc. now owns 11,362 shares of the financial services provider's stock valued at $1,281,000 after acquiring an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock traded up $0.11 during trading on Thursday, reaching $119.99. The company had a trading volume of 647,922 shares, compared to its average volume of 1,103,035. The firm's 50-day simple moving average is $114.60 and its 200 day simple moving average is $119.63. Royal Bank of Canada has a 1-year low of $97.72 and a 1-year high of $128.05. The firm has a market capitalization of $169.39 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a $1.0251 dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.42%. Royal Bank of Canada's dividend payout ratio is currently 46.18%.

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.