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

Shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) have earned a consensus rating of “Buy” from the seven analysts that are currently 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 target among analysts that have updated their coverage on the stock in the last year is $156.50.

A number of brokerages have issued reports on RY. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report 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 dropped their price target 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 upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP bought a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $25,000. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada during the 3rd quarter valued at $25,000. Park Square Financial Group LLC bought a new stake in Royal Bank of Canada in the fourth quarter worth $25,000. Larson Financial Group LLC bought a new stake in Royal Bank of Canada in the third quarter worth $26,000. Finally, WealthTrak Capital Management LLC purchased a new position in Royal Bank of Canada during the fourth quarter worth $28,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Trading Up 0.7 %

Royal Bank of Canada stock opened at $115.07 on Monday. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05. The firm’s 50 day moving average price is $119.55 and its 200-day moving average price is $121.71. 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 stock has a market cap of $162.74 billion, a P/E ratio of 13.93, a PEG 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. This represents a $4.10 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is 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.