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. This segment offers financial products and services through branches, automated teller machines, and mobile sales network. Its Wealth Management segment provides a suite of advice-based solutions and strategies to high net worth and ultra-high net worth individuals, and institutional clients. The company's Insurance segment offers life, health, home, auto, travel, wealth, annuities, and reinsurance advice and solutions; and business insurance services to individual, business, and group clients through its advice centers, RBC insurance stores, and mobile advisors; digital, mobile, and social platforms; independent brokers; and travel partners. Its Investor & Treasury Services segment provides asset servicing, custody, payments, and treasury services to financial and other investors; and fund and investment administration, shareholder, private capital, performance measurement and compliance monitoring, distribution, transaction banking, cash and liquidity management, foreign exchange, and global securities finance services. The company's Capital Markets segment offers corporate and investment banking, as well as equity and debt origination, distribution, advisory services, sale, and trading services for corporations, institutional investors, asset managers, private equity firms, and governments. The company was founded in 1864 and is headquartered in Toronto, Canada.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on RY. National Bank Financial cut their target price on shares of Royal Bank of Canada from C$148.00 to C$147.00 in a research note on Tuesday. Argus upped their price target on shares of Royal Bank of Canada from $121.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, June 6th. Canaccord Genuity Group dropped their price target on shares of Royal Bank of Canada from C$134.00 to C$131.50 in a research note on Thursday. Scotiabank dropped their price target on shares of Royal Bank of Canada from C$147.00 to C$144.00 in a research note on Thursday. Finally, Credit Suisse Group dropped their price target on shares of Royal Bank of Canada from C$153.00 to C$152.00 in a research note on Friday, May 27th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Royal Bank of Canada currently has a consensus rating of "Hold" and an average target price of $140.66.
Royal Bank of Canada Trading Up 0.2 %
Royal Bank of Canada stock opened at $100.21 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market capitalization of $139.75 billion, a price-to-earnings ratio of 10.96, a PEG ratio of 2.22 and a beta of 0.87. Royal Bank of Canada has a one year low of $90.75 and a one year high of $119.41. The company's fifty day moving average price is $97.06 and its two-hundred day moving average price is $103.86.
Royal Bank of Canada (NYSE:RY - Get Rating) (TSE:RY) last posted its earnings results on Thursday, May 26th. The financial services provider reported $2.36 EPS for the quarter, topping the consensus estimate of $2.08 by $0.28. Royal Bank of Canada had a net margin of 28.54% and a return on equity of 17.97%. The firm had revenue of $8.86 billion for the quarter. On average, analysts forecast that Royal Bank of Canada will post 8.84 earnings per share for the current fiscal year.
Royal Bank of Canada Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Tuesday, July 26th will be issued a dividend of $0.995 per share. This represents a $3.98 dividend on an annualized basis and a yield of 3.97%. This is a boost from Royal Bank of Canada's previous quarterly dividend of $0.94. The ex-dividend date is Monday, July 25th. Royal Bank of Canada's dividend payout ratio is 43.54%.
