Royal Bank of Canada (NYSE:RY) Receives $156.50 Consensus PT from Brokerages

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

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

Royal Bank of Canada Price Performance

NYSE:RY opened at $120.72 on Wednesday. Royal Bank of Canada has a 52-week low of $93.97 and a 52-week high of $128.05. The stock has a fifty day moving average of $124.00 and a 200 day moving average of $117.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $170.66 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 1.86 and a beta of 0.86.

Royal Bank of Canada Increases Dividend

The firm also recently declared 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 annualized dividend and a yield of 3.49%. 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. Royal Bank of Canada’s dividend payout ratio is presently 52.91%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Capital Performance Advisors LLP bought a new position in Royal Bank of Canada during the 3rd quarter worth approximately $25,000. Dunhill Financial LLC bought a new stake in Royal Bank of Canada in the 3rd quarter worth $25,000. Larson Financial Group LLC purchased a new position in shares of Royal Bank of Canada in the third quarter valued at about $26,000. Ridgewood Investments LLC bought a new position in shares of Royal Bank of Canada during the second quarter valued at about $27,000. Finally, Grove Bank & Trust purchased a new stake in shares of Royal Bank of Canada during the third quarter worth about $28,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

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.