Analysts Set Royal Bank of Canada (NYSE:RY) Target Price at $156.50

Shares of Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY have received an average recommendation of "Buy" from the seven research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $156.50.

A number of equities analysts have commented on RY shares. BMO Capital Markets dropped their target price on shares of 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. TD Securities downgraded Royal Bank of Canada from a "buy" rating to a "hold" rating in a report on Friday, November 15th. Barclays raised Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research report on Thursday, November 21st. Finally, StockNews.com downgraded Royal Bank of Canada from a "hold" rating to a "sell" rating in a report on Wednesday, January 1st.

Institutional Trading of Royal Bank of Canada

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

Royal Bank of Canada Trading Down 2.6 %

RY stock traded down $3.20 during midday trading on Friday, reaching $118.47. The company's stock had a trading volume of 731,183 shares, compared to its average volume of 742,097. Royal Bank of Canada has a 1 year low of $93.97 and a 1 year high of $128.05. The firm has a market capitalization of $167.48 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.86 and a beta of 0.87. The stock has a fifty day simple moving average of $122.98 and a two-hundred day simple moving average of $119.03. 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 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a $1.0522 dividend. The ex-dividend date is Monday, January 27th. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.55%. Royal Bank of Canada's dividend payout ratio (DPR) is currently 52.91%.

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.