Brokerages Set Royal Bank of Canada (NYSE:RY) PT at $137.67

Royal Bank of Canada (NYSE:RY) (TSE:RY) has received a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $137.67.

Several research analysts have issued reports on RY shares. Barclays started coverage on Royal Bank of Canada in a research report on Wednesday, March 20th. They set an “equal weight” rating for the company. Jefferies Financial Group began coverage on shares of Royal Bank of Canada in a research note on Thursday, February 22nd. They set a “hold” rating on the stock. BMO Capital Markets raised Royal Bank of Canada from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $140.00 to $150.00 in a report on Friday, April 5th. Finally, StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th.

Institutional Investors Weigh In On Royal Bank of Canada

Several institutional investors have recently modified their holdings of RY. Orion Portfolio Solutions LLC increased its stake in Royal Bank of Canada by 47.4% in the first quarter. Orion Portfolio Solutions LLC now owns 16,494 shares of the financial services provider’s stock valued at $1,664,000 after purchasing an additional 5,302 shares during the last quarter. Pembroke Management LTD grew its holdings in Royal Bank of Canada by 4.3% during the 1st quarter. Pembroke Management LTD now owns 11,197 shares of the financial services provider’s stock valued at $1,130,000 after purchasing an additional 460 shares in the last quarter. Bleakley Financial Group LLC boosted its stake in Royal Bank of Canada by 3.4% during the 1st quarter. Bleakley Financial Group LLC now owns 5,299 shares of the financial services provider’s stock valued at $535,000 after acquiring an additional 174 shares during the last quarter. Avantax Advisory Services Inc. increased its holdings in Royal Bank of Canada by 2.4% in the first quarter. Avantax Advisory Services Inc. now owns 5,225 shares of the financial services provider’s stock valued at $527,000 after buying an additional 124 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Royal Bank of Canada by 3.9% in the first quarter. Russell Investments Group Ltd. now owns 992,728 shares of the financial services provider’s stock worth $100,192,000 after purchasing an additional 36,982 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Up 1.2 %

Shares of NYSE:RY opened at $103.09 on Tuesday. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $103.88. The stock has a fifty day simple moving average of $99.43 and a two-hundred day simple moving average of $95.69. The stock has a market capitalization of $145.85 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 1.74 and a beta of 0.86. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, topping the consensus estimate of $2.06 by $0.05. The company had revenue of $9.98 billion during the quarter, compared to analyst estimates of $10.10 billion. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. On average, research analysts anticipate that Royal Bank of Canada will post 8.45 earnings per share for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be paid a $1.0207 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. This represents a $4.08 dividend on an annualized basis and a dividend yield of 3.96%. Royal Bank of Canada’s payout ratio is 25.31%.

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.