Royal Bank of Canada (NYSE:RY) Receives $156.50 Consensus Price Target from Analysts

Shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) have been given an average rating of “Moderate Buy” by the eight research firms that are covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $156.50.

A number of equities analysts have recently weighed in on RY shares. BMO Capital Markets lowered their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, CIBC reissued a “neutral” rating on shares of Royal Bank of Canada in a research report on Wednesday, March 5th.

Hedge Funds Weigh In On Royal Bank of Canada

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dunhill Financial LLC bought a new position in Royal Bank of Canada in the third quarter valued at approximately $25,000. Larson Financial Group LLC bought a new position in shares of Royal Bank of Canada in the 3rd quarter valued at $26,000. Park Square Financial Group LLC acquired a new position in shares of Royal Bank of Canada during the 4th quarter worth $25,000. Roxbury Financial LLC acquired a new position in shares of Royal Bank of Canada during the 4th quarter worth $29,000. Finally, WealthTrak Capital Management LLC bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth $28,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Performance

Shares of RY stock opened at $112.04 on Friday. Royal Bank of Canada has a 52 week low of $95.84 and a 52 week high of $128.05. The company has a market capitalization of $158.17 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 1.80 and a beta of 0.88. The company has a 50-day simple moving average of $117.43 and a 200 day simple moving average of $121.03. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th will be paid 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 yield of 3.66%. Royal Bank of Canada’s payout ratio is 45.96%.

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 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.