Royal Bank of Canada (NYSE:RY – Get Free Report) (TSE:RY) was the recipient of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 6,460,000 shares, a decrease of 38.8% from the February 13th total of 10,560,000 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,120,000 shares, the short-interest ratio is currently 5.8 days.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on RY shares. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. CIBC restated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. BMO Capital Markets reduced their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Royal Bank of Canada has an average rating of “Moderate Buy” and a consensus target price of $156.50.
View Our Latest Stock Analysis on RY
Institutional Inflows and Outflows
Royal Bank of Canada Price Performance
Shares of NYSE RY traded up $2.71 during mid-day trading on Friday, hitting $111.52. 1,446,336 shares of the stock traded hands, compared to its average volume of 1,002,148. The company has a market cap of $157.43 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month 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 firm has a 50 day simple moving average of $118.61 and a two-hundred day simple moving average of $121.48.
Royal Bank of Canada Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. This represents a $4.10 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 45.96%.
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.
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