Royal Bank of Canada (NYSE:RY) (TSE:RY) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 5,850,000 shares, a growth of 35.7% from the September 30th total of 4,310,000 shares. Based on an average daily trading volume, of 977,500 shares, the days-to-cover ratio is currently 6.0 days. Currently, 0.4% of the shares of the company are sold short.

Large investors have recently added to or reduced their stakes in the stock. Coastal Capital Group Inc. bought a new stake in Royal Bank of Canada in the 2nd quarter valued at $28,000. Capital Advisors Ltd. LLC bought a new stake in Royal Bank of Canada in the 2nd quarter valued at $32,000. Boston Partners bought a new stake in Royal Bank of Canada in the 2nd quarter valued at $50,000. Winslow Evans & Crocker Inc. increased its holdings in Royal Bank of Canada by 34.3% in the 2nd quarter. Winslow Evans & Crocker Inc. now owns 806 shares of the financial services provider’s stock valued at $64,000 after buying an additional 206 shares during the period. Finally, CWM LLC increased its holdings in Royal Bank of Canada by 140.0% in the 3rd quarter. CWM LLC now owns 804 shares of the financial services provider’s stock valued at $65,000 after buying an additional 469 shares during the period. Hedge funds and other institutional investors own 41.24% of the company’s stock.

NYSE:RY traded up $0.06 during trading hours on Thursday, hitting $81.77. 434,485 shares of the company traded hands, compared to its average volume of 909,488. The stock has a market capitalization of $117.09 billion, a price-to-earnings ratio of 12.52, a P/E/G ratio of 2.05 and a beta of 1.12. Royal Bank of Canada has a twelve month low of $65.76 and a twelve month high of $82.58. The firm has a 50-day moving average of $80.95 and a 200 day moving average of $78.69. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.13.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, August 21st. The financial services provider reported $1.69 EPS for the quarter, missing the Thomson Reuters’ 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 net margin of 19.66% and a return on equity of 17.18%. Royal Bank of Canada’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.10 earnings per share. Equities research analysts predict that Royal Bank of Canada will post 6.78 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be paid a dividend of $0.796 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.76. This represents a $3.18 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend is Wednesday, October 23rd. Royal Bank of Canada’s dividend payout ratio is presently 48.55%.

A number of analysts have recently weighed in on the stock. Barclays restated a “sell” rating on shares of Royal Bank of Canada in a research note on Wednesday, August 21st. Scotiabank reiterated a “buy” rating on shares of Royal Bank of Canada in a research note on Tuesday, August 20th. ValuEngine cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Finally, Zacks Investment Research cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $100.75.

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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