Royal Bank Of Canada (NYSE:RY) Announces Earnings Results

Royal Bank Of Canada (NYSE:RY) (TSE:RY) released its earnings results on Thursday. The financial services provider reported $3.07 EPS for the quarter, beating the consensus estimate of $2.89 by $0.18, Zacks reports. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $207.52 on Thursday. Royal Bank Of Canada has a one year low of $141.37 and a one year high of $218.57. The stock has a market cap of $287.75 billion, a P/E ratio of 18.65, a P/E/G ratio of 1.56 and a beta of 0.80. The company has a fifty day moving average price of $208.92 and a two-hundred day moving average price of $187.56. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82.

Analyst Ratings Changes

RY has been the topic of a number of recent research reports. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods began coverage on shares of Royal Bank Of Canada in a research note on Friday, August 21st. They set a “market perform” rating on the stock. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Finally, Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and an average target price of $225.00.

Institutional Investors Weigh In On Royal Bank Of Canada

Several hedge funds have recently added to or reduced their stakes in the business. First Manhattan CO. LLC. boosted its position in Royal Bank Of Canada by 1.1% during the fourth quarter. First Manhattan CO. LLC. now owns 7,363 shares of the financial services provider’s stock worth $1,255,000 after acquiring an additional 83 shares during the last quarter. First Citizens Bank & Trust Co. lifted its stake in Royal Bank Of Canada by 1.1% in the 4th quarter. First Citizens Bank & Trust Co. now owns 7,522 shares of the financial services provider’s stock worth $1,282,000 after purchasing an additional 83 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Royal Bank Of Canada by 2.7% in the 4th quarter. Advisors Asset Management Inc. now owns 3,957 shares of the financial services provider’s stock worth $675,000 after purchasing an additional 104 shares in the last quarter. Aptus Capital Advisors LLC boosted its holdings in shares of Royal Bank Of Canada by 4.9% during the 4th quarter. Aptus Capital Advisors LLC now owns 2,786 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 130 shares during the last quarter. Finally, Sumitomo Life Insurance Co. grew its position in shares of Royal Bank Of Canada by 0.9% in the fourth quarter. Sumitomo Life Insurance Co. now owns 15,132 shares of the financial services provider’s stock valued at $2,580,000 after purchasing an additional 131 shares in the last quarter. Institutional investors and hedge funds 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.