Royal Bank of Canada (NYSE:RY) Receives Consensus Rating of “Buy” from Analysts

Royal Bank of Canada (NYSE:RY) (TSE:RY) has earned a consensus rating of “Buy” from the seven research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $156.50.

A number of equities analysts have recently weighed in on the company. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, BMO Capital Markets decreased their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in shares of Royal Bank of Canada during the third quarter worth $25,000. Dunhill Financial LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at $25,000. Larson Financial Group LLC bought a new position in Royal Bank of Canada in the 3rd quarter worth about $26,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Royal Bank of Canada by 110.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after buying an additional 118 shares in the last quarter. Finally, Grove Bank & Trust purchased a new position in Royal Bank of Canada during the 3rd quarter valued at about $28,000. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Stock Up 0.8 %

RY opened at $120.72 on Wednesday. Royal Bank of Canada has a fifty-two week low of $93.97 and a fifty-two week high of $128.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The company’s 50-day moving average is $124.00 and its 200 day moving average is $117.31. The firm has a market capitalization of $170.66 billion, a P/E ratio of 14.62, a PEG ratio of 1.86 and a beta of 0.86.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. This represents a $4.21 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Monday, January 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 52.91%.

About Royal Bank of Canada

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.