Short Interest in Royal Bank of Canada (NYSE:RY) Decreases By 14.5%

Royal Bank of Canada (NYSE:RY) (TSE:RY) was the target of a large decrease in short interest during the month of February. As of February 15th, there was short interest totalling 10,560,000 shares, a decrease of 14.5% from the January 31st total of 12,350,000 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is currently 10.1 days.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. BMO Capital Markets reduced their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in Royal Bank of Canada during the 3rd quarter valued at approximately $25,000. Dunhill Financial LLC acquired a new position in shares of Royal Bank of Canada in the third quarter valued at approximately $25,000. Park Square Financial Group LLC acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth $25,000. Larson Financial Group LLC purchased a new position in Royal Bank of Canada in the 3rd quarter valued at $26,000. Finally, WealthTrak Capital Management LLC acquired a new position in Royal Bank of Canada in the 4th quarter valued at $28,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Up 0.5 %

Shares of Royal Bank of Canada stock traded up $0.62 during trading hours on Friday, hitting $114.86. The company had a trading volume of 411,707 shares, compared to its average volume of 1,266,523. The company’s 50-day moving average is $119.66 and its two-hundred day moving average is $121.57. Royal Bank of Canada has a twelve month low of $95.84 and a twelve month 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. The company has a market cap of $162.46 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a dividend of $1.0251 per share. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.57%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.96%.

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.