Royal Bank Of Canada (NYSE:RY) Short Interest Update

Royal Bank Of Canada (NYSE:RY) (TSE:RY) was the target of a large decline in short interest in August. As of August 14th, there was short interest totaling 3,350,969 shares, a decline of 49.5% from the July 30th total of 6,630,140 shares. Based on an average daily trading volume, of 1,253,902 shares, the short-interest ratio is presently 2.7 days. Approximately 0.2% of the shares of the stock are sold short.

Royal Bank Of Canada Trading Up 0.1%

Shares of Royal Bank Of Canada stock traded up $0.11 during trading hours on Monday, reaching $204.34. The stock had a trading volume of 1,578,055 shares, compared to its average volume of 1,500,315. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $283.34 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 1.51 and a beta of 0.80. The firm has a 50 day simple moving average of $209.04 and a two-hundred day simple moving average of $188.01. Royal Bank Of Canada has a 1 year low of $143.13 and a 1 year high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.18. The firm had revenue of $13.22 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. As a group, equities research analysts anticipate that Royal Bank Of Canada will post 11.75 earnings per share for the current year.

Royal Bank Of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be given a dividend of $1.76 per share. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 43.39%.

Analysts Set New Price Targets

Several equities analysts have weighed in on RY shares. Raymond James Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report 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 initiated coverage on Royal Bank Of Canada in a report on Friday, August 21st. They issued a “market perform” rating for the company. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. Finally, Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and an average target price of $225.00.

Hedge Funds Weigh In On Royal Bank Of Canada

Institutional investors have recently made changes to their positions in the stock. Harvest Fund Management Co. Ltd acquired a new stake in shares of Royal Bank Of Canada in the 4th quarter worth about $25,000. Key Financial Inc lifted its stake in Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 63 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada during the 3rd quarter valued at $27,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Royal Bank Of Canada in the 2nd quarter valued at approximately $28,000. Finally, Maseco LLP boosted its holdings in Royal Bank Of Canada by 355.0% in the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

About Royal Bank Of Canada

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.