Short Interest in Royal Bank of Canada (NYSE:RY) Decreases By 19.7%

Royal Bank of Canada (NYSE:RY) (TSE:RY) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 6,350,000 shares, a drop of 19.7% from the November 30th total of 7,910,000 shares. Based on an average trading volume of 1,090,000 shares, the short-interest ratio is presently 5.8 days. Currently, 0.5% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on RY shares. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, December 20th. Finally, BMO Capital Markets decreased their target price on 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. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Trading Down 0.2 %

Shares of RY stock traded down $0.20 on Friday, reaching $120.88. 355,952 shares of the stock were exchanged, compared to its average volume of 1,069,874. The stock has a 50 day moving average price of $123.55 and a 200 day moving average price of $117.89. The stock has a market cap of $170.88 billion, a PE ratio of 14.63, a P/E/G ratio of 1.86 and a beta of 0.86. Royal Bank of Canada has a one year low of $93.97 and a one year 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.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be paid a $1.0522 dividend. This represents a $4.21 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Monday, January 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is 52.91%.

Hedge Funds Weigh In On Royal Bank of Canada

Large investors have recently bought and sold shares of the business. Capital Performance Advisors LLP bought a new stake in Royal Bank of Canada in the third quarter valued at about $25,000. Dunhill Financial LLC acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $26,000. Grove Bank & Trust bought a new position in Royal Bank of Canada during the 3rd quarter worth approximately $28,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in Royal Bank of Canada by 110.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

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.