Royal Bank of Canada (NYSE:RY) (TSE:RY) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 6,083,300 shares, a decrease of 16.2% from the July 31st total of 7,263,600 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 857,700 shares, the days-to-cover ratio is currently 7.1 days.
Shares of Royal Bank of Canada stock traded up $0.54 on Friday, hitting $79.33. The stock had a trading volume of 1,761,100 shares, compared to its average volume of 892,401. The stock has a market cap of $114.03 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 2.06 and a beta of 1.11. Royal Bank of Canada has a twelve month low of $65.76 and a twelve month high of $81.56. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $76.17 and its two-hundred day moving average is $77.71.
Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, August 21st. The financial services provider reported $1.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.04). The company had revenue of $11.54 billion for the quarter, compared to analyst estimates of $11.56 billion. Royal Bank of Canada had a return on equity of 17.18% and a net margin of 19.66%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.10 EPS. As a group, equities analysts predict that Royal Bank of Canada will post 6.76 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be given a dividend of $0.796 per share. The ex-dividend date is Wednesday, October 23rd. This represents a $3.18 dividend on an annualized basis and a yield of 4.01%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.76. Royal Bank of Canada’s dividend payout ratio is currently 47.78%.
Several equities analysts have recently commented on RY shares. BMO Capital Markets reaffirmed a “hold” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. Zacks Investment Research downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Wednesday. Desjardins reaffirmed a “buy” rating and issued a $111.00 target price on shares of Royal Bank of Canada in a research report on Thursday, May 16th. Barclays reaffirmed a “sell” rating on shares of Royal Bank of Canada in a research report on Wednesday, August 21st. Finally, ValuEngine downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $99.25.
A number of large investors have recently modified their holdings of the stock. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Royal Bank of Canada during the second quarter worth approximately $184,000. Boston Partners bought a new stake in Royal Bank of Canada during the second quarter worth $50,000. Natixis lifted its stake in Royal Bank of Canada by 57.4% during the second quarter. Natixis now owns 31,939 shares of the financial services provider’s stock worth $2,544,000 after purchasing an additional 11,650 shares during the last quarter. WealthPLAN Partners LLC bought a new stake in Royal Bank of Canada during the second quarter worth $222,000. Finally, Magnetar Financial LLC lifted its stake in Royal Bank of Canada by 20.0% during the second quarter. Magnetar Financial LLC now owns 13,015 shares of the financial services provider’s stock worth $1,033,000 after purchasing an additional 2,165 shares during the last quarter. 43.61% of the stock is currently owned by institutional investors and hedge funds.
Royal Bank of Canada Company Profile
Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.
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