Royal Bank Of Canada (NYSE:RY) Stock Has Average Price Target of $225.00 According to Analysts

Royal Bank Of Canada (NYSE:RY) (TSE:RY) has been given a consensus rating of “Moderate Buy” by the thirteen analysts that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $225.00.

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods initiated coverage on Royal Bank Of Canada in a research report on Friday, August 21st. They issued a “market perform” rating on the stock. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 28th. Finally, 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.

Institutional Investors Weigh In On Royal Bank Of Canada

Several large investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new position in shares of Royal Bank Of Canada in the second quarter worth about $2,296,717,000. Legal & General Group Plc acquired a new position in Royal Bank Of Canada during the 2nd quarter worth approximately $1,645,758,000. M. Kulyk & Associates LLC acquired a new position in shares of Royal Bank Of Canada during the 2nd quarter worth approximately $2,953,000. Korea Investment CORP acquired a new stake in shares of Royal Bank Of Canada in the second quarter valued at approximately $175,489,000. Finally, Nykredit A S bought a new stake in shares of Royal Bank Of Canada during the second quarter worth approximately $57,183,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Up 0.8%

Royal Bank Of Canada stock opened at $202.77 on Friday. The company has a market capitalization of $280.62 billion, a P/E ratio of 17.74, a PEG ratio of 1.80 and a beta of 0.80. The stock has a 50-day simple moving average of $202.35 and a 200-day simple moving average of $188.27. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. Royal Bank Of Canada has a fifty-two week low of $143.38 and a fifty-two week high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.18. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. The company had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $12.98 billion. Equities research analysts expect that Royal Bank Of Canada will post 11.83 earnings per share for the current year.

Royal Bank Of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be issued a dividend of C$1.76 per share. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada’s payout ratio is currently 43.39%.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and provides banking, wealth management, capital markets, insurance and investor services to individuals, businesses, institutions and governments.

RBC’s personal and commercial banking operations offer deposit accounts, lending, mortgages, credit cards, payment services and financial advice. Its wealth management business provides investment management, private banking, trust, brokerage and advisory services, while RBC Capital Markets delivers investment banking, sales and trading, research and corporate finance services.