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

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

Several research firms have recently commented on RY. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a 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. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets reduced 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 note on Thursday, December 5th.

Royal Bank of Canada Price Performance

RY opened at $120.46 on Friday. The company has a 50-day moving average of $122.59 and a 200-day moving average of $119.31. The company has a market capitalization of $170.29 billion, a P/E ratio of 14.58, a PEG ratio of 1.77 and a beta of 0.87. Royal Bank of Canada has a 1-year low of $93.97 and a 1-year high of $128.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be paid a $1.0522 dividend. This represents a $4.21 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend 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 is currently 50.85%.

Institutional Trading of Royal Bank of Canada

Several large investors have recently added to or reduced their stakes in RY. Phoenix Wealth Advisors bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth $261,000. Verum Partners LLC bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth $2,353,000. Atomi Financial Group Inc. boosted its holdings in shares of Royal Bank of Canada by 12.4% during the 4th quarter. Atomi Financial Group Inc. now owns 14,456 shares of the financial services provider’s stock worth $1,742,000 after buying an additional 1,597 shares during the period. Ballentine Partners LLC boosted its holdings in shares of Royal Bank of Canada by 2.2% during the 4th quarter. Ballentine Partners LLC now owns 4,308 shares of the financial services provider’s stock worth $519,000 after buying an additional 94 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Royal Bank of Canada by 17.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,321 shares of the financial services provider’s stock worth $159,000 after buying an additional 192 shares during the period. 45.31% of the stock is owned by institutional investors.

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.