Shares of Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) saw an uptick in trading volume on Friday . 2,600,176 shares were traded during trading, an increase of 72% from the previous session’s volume of 1,511,103 shares.The stock last traded at $209.7570 and had previously closed at $208.46.
Analyst Ratings Changes
Several research firms have recently weighed in on RY. Weiss Ratings lowered Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, June 29th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Argus set a $225.00 price target on shares of Royal Bank Of Canada in a report on Thursday, June 11th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and an average target price of $225.00.
Check Out Our Latest Report on Royal Bank Of Canada
Royal Bank Of Canada Trading Up 0.3%
Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last posted its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. The business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company posted $3.12 earnings per share. Sell-side analysts forecast that Royal Bank Of Canada will post 11.45 EPS for the current year.
Royal Bank Of Canada Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be issued a dividend of $1.76 per share. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is 42.41%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Royal Bank Of Canada by 33.1% in the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after buying an additional 575 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Royal Bank Of Canada by 60.9% during the 1st quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after purchasing an additional 4,460 shares during the last quarter. Sivia Capital Partners LLC increased its stake in shares of Royal Bank Of Canada by 57.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock worth $695,000 after purchasing an additional 1,934 shares during the last quarter. Baird Financial Group Inc. raised its holdings in shares of Royal Bank Of Canada by 39.1% during the 2nd quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock valued at $1,783,000 after purchasing an additional 3,811 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in shares of Royal Bank Of Canada by 9.0% in the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock valued at $6,279,000 after purchasing an additional 3,928 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.
Royal Bank Of Canada Company Profile
Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.
RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.
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