Analysts Set Royal Bank of Canada (NYSE:RY) PT at $156.50

Royal Bank of Canada (NYSE:RY) (TSE:RY) has been assigned an average rating of “Buy” from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $156.50.

A number of research firms have commented on RY. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, BMO Capital Markets cut their price target on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th.

Institutional Trading of Royal Bank of Canada

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new position in shares of Royal Bank of Canada during the 3rd quarter valued at about $25,000. Dunhill Financial LLC purchased a new stake in shares of Royal Bank of Canada in the third quarter worth about $25,000. Larson Financial Group LLC bought a new position in Royal Bank of Canada during the third quarter valued at approximately $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 bought a new stake in Royal Bank of Canada in the 3rd quarter worth approximately $28,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Stock Down 0.1 %

NYSE RY opened at $118.31 on Thursday. Royal Bank of Canada has a 52 week low of $93.97 and a 52 week high of $128.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $167.33 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 1.78 and a beta of 0.87. The stock’s 50-day moving average price is $121.52 and its 200-day moving average price is $120.70.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be given a dividend of $1.0522 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.56%. Royal Bank of Canada’s dividend payout ratio is currently 49.76%.

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.