Analysts Set Royal Bank of Canada (NYSE:RY) PT at $156.50

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

A number of analysts recently weighed in on the stock. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. BMO Capital Markets reduced their price objective on 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. Finally, StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st.

Hedge Funds Weigh In On Royal Bank of Canada

A number of large investors have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Royal Bank of Canada during the 3rd quarter worth approximately $25,000. Dunhill Financial LLC acquired a new position in shares of Royal Bank of Canada during the third quarter worth $25,000. Larson Financial Group LLC acquired a new position in shares of Royal Bank of Canada during the third quarter worth $26,000. Whittier Trust Co. of Nevada Inc. grew its holdings in Royal Bank of Canada by 110.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares in the last quarter. Finally, Grove Bank & Trust purchased a new stake in Royal Bank of Canada during the 3rd quarter worth $28,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at $118.41 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 52 week low of $93.97 and a 52 week high of $128.05. The firm’s 50 day moving average is $122.81 and its two-hundred day moving average is $119.21. The firm has a market capitalization of $167.39 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.86 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be given a $1.0522 dividend. The ex-dividend date is Monday, January 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a dividend yield of 3.55%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.76%.

About Royal Bank of Canada

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.