Royal Bank Of Canada (NYSE:RY) Sees Significant Increase in Short Interest

Royal Bank Of Canada (NYSE:RYGet Free Report) (TSE:RY) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 5,258,072 shares, a growth of 56.9% from the August 15th total of 3,350,969 shares. Based on an average trading volume of 1,453,841 shares, the short-interest ratio is presently 3.6 days. Approximately 0.4% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of research analysts recently issued reports on RY shares. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods started coverage on shares of Royal Bank Of Canada in a research report on Friday, August 21st. They issued a “market perform” rating for the company. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 28th. Finally, Argus set a $225.00 target price on Royal Bank Of Canada in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Get Our Latest Stock Report on Royal Bank Of Canada

Institutional Investors Weigh In On Royal Bank Of Canada

Several institutional investors have recently added to or reduced their stakes in RY. Echo45 Advisors LLC increased its position in shares of Royal Bank Of Canada by 5.0% during the 1st quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 60 shares during the last quarter. Key Financial Inc boosted its stake in Royal Bank Of Canada by 63.0% during the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after buying an additional 63 shares during the period. Apella Capital LLC boosted its stake in Royal Bank Of Canada by 3.1% during the second quarter. Apella Capital LLC now owns 2,155 shares of the financial services provider’s stock worth $451,000 after buying an additional 64 shares during the period. Cornerstone Financial Management LLC increased its position in Royal Bank Of Canada by 45.2% during the second quarter. Cornerstone Financial Management LLC now owns 212 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 66 shares during the last quarter. Finally, Fiduciary Financial Group LLC raised its stake in shares of Royal Bank Of Canada by 3.5% in the second quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the financial services provider’s stock valued at $419,000 after acquiring an additional 68 shares during the period. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Stock Up 0.6%

Shares of NYSE RY opened at $203.57 on Friday. Royal Bank Of Canada has a 52-week low of $143.13 and a 52-week high of $218.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $282.27 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.81 and a beta of 0.79. The firm has a 50 day moving average price of $209.38 and a 200 day moving average price of $191.54.

Royal Bank Of Canada (NYSE:RYGet Free Report) (TSE:RY) last released its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.18. The company had revenue of $13.22 billion for the quarter, compared to analyst estimates of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. Analysts expect that Royal Bank Of Canada will post 11.83 EPS for the current year.

Royal Bank Of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be issued a $1.76 dividend. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada’s dividend payout ratio is 44.44%.

Royal Bank Of Canada Company Profile

(Get Free Report)

Royal Bank of Canada (RBC) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it is one of Canada’s largest banks and serves individuals, businesses, institutions and governments.

RBC provides personal and commercial banking products, including deposit accounts, mortgages, consumer and business loans, credit cards and payment services. Through its wealth management operations, the company offers investment advice, brokerage, asset management, trust and estate services, and private banking.

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