Royal Bank of Canada (NYSE:RY) Sees Significant Decline in Short Interest

Royal Bank of Canada (NYSE:RY) (TSE:RY) was the recipient of a large decrease in short interest during the month of 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. Based on an average trading volume of 1,120,000 shares, the short-interest ratio is presently 5.8 days. Approximately 0.5% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. BMO Capital Markets dropped their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Finally, CIBC reiterated a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Institutional Investors Weigh In On Royal Bank of Canada

Large investors have recently bought and sold shares of the stock. Dunhill Financial LLC acquired a new stake in Royal Bank of Canada during the 3rd quarter valued at $25,000. Park Square Financial Group LLC acquired a new stake in Royal Bank of Canada during the 4th quarter valued at $25,000. Larson Financial Group LLC acquired a new stake in Royal Bank of Canada during the 3rd quarter valued at $26,000. WealthTrak Capital Management LLC acquired a new stake in Royal Bank of Canada during the 4th quarter valued at $28,000. Finally, Roxbury Financial LLC acquired a new stake in Royal Bank of Canada during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of RY traded up $2.71 on Friday, reaching $111.52. The stock had a trading volume of 1,446,336 shares, compared to its average volume of 1,003,470. The firm has a market capitalization of $157.43 billion, a PE ratio of 13.50, a PEG ratio of 1.80 and a beta of 0.88. 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 firm has a 50-day moving average of $118.61 and a 200 day moving average of $121.54. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month high of $128.05.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be issued a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.96%.

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.