Royal Bank Of Canada (NYSE:RY) Coverage Initiated by Analysts at Keefe, Bruyette & Woods

Stock analysts at Keefe, Bruyette & Woods assumed coverage on shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in a research note issued to investors on Friday. The brokerage set a “market perform” rating on the financial services provider’s stock.

A number of other brokerages have also commented on RY. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday. Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Finally, Argus set a $225.00 price target on Royal Bank Of Canada in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Stock Up 1.2%

NYSE RY traded up $2.46 during trading hours on Friday, reaching $207.67. 44,773 shares of the company’s stock were exchanged, compared to its average volume of 1,490,129. The company’s 50-day moving average is $208.46 and its two-hundred day moving average is $186.53. Royal Bank Of Canada has a one year low of $135.97 and a one year high of $218.57. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $287.96 billion, a price-to-earnings ratio of 18.66, a price-to-earnings-growth ratio of 1.64 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.12 earnings per share. On average, analysts forecast that Royal Bank Of Canada will post 11.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Royal Bank Of Canada

A number of institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC grew its holdings in shares of Royal Bank Of Canada by 18.5% during the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after purchasing an additional 15,046 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Royal Bank Of Canada by 6.1% in the fourth quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock worth $1,086,601,000 after purchasing an additional 368,534 shares during the last quarter. Rathbones Group PLC increased its holdings in Royal Bank Of Canada by 9.0% in the fourth quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock valued at $55,480,000 after purchasing an additional 26,782 shares during the period. Indivisible Partners bought a new position in Royal Bank Of Canada during the 4th quarter worth $7,335,000. Finally, MUFG Securities EMEA plc bought a new position in Royal Bank Of Canada during the 4th quarter worth $49,450,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.