Royal Bank of Canada (NYSE:RY) Given Consensus Recommendation of “Buy” by Analysts

Royal Bank of Canada (NYSE:RY) (TSE:RY) has received a consensus rating of “Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $156.50.

A number of research analysts recently commented on RY shares. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, BMO Capital Markets cut their price objective 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 stock opened at $123.71 on Wednesday. The firm has a 50 day simple moving average of $124.15 and a two-hundred day simple moving average of $117.12. The stock has a market cap of $174.88 billion, a PE ratio of 14.98, a P/E/G ratio of 1.86 and a beta of 0.86. Royal Bank of Canada has a one year low of $93.97 and a one year high of $128.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be given a $1.0522 dividend. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 52.91%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new position in shares of Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Dunhill Financial LLC bought a new position in Royal Bank of Canada in the third quarter worth $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada during the third quarter valued at $26,000. Ridgewood Investments LLC bought a new stake in shares of Royal Bank of Canada during the 2nd quarter valued at $27,000. Finally, Grove Bank & Trust purchased a new stake in shares of Royal Bank of Canada in the 3rd quarter worth about $28,000. 45.31% of the stock is owned by hedge funds and other 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.