Royal Bank of Canada (NYSE:RY) Sees Strong Trading Volume - Still a Buy?

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY shares saw an uptick in trading volume on Tuesday . 2,702,490 shares were traded during trading, an increase of 143% from the previous session's volume of 1,110,127 shares.The stock last traded at $116.57 and had previously closed at $115.21.

Analysts Set New Price Targets

Several analysts have recently commented on RY shares. CIBC upgraded shares of Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday, April 4th. Cibc World Mkts upgraded Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Finally, StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada currently has a consensus rating of "Buy" and an average target price of $156.50.

Royal Bank of Canada Stock Performance

The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The firm has a market cap of $166.24 billion, a price-to-earnings ratio of 14.24, a P/E/G ratio of 1.80 and a beta of 0.82. The business's 50-day simple moving average is $114.76 and its two-hundred day simple moving average is $119.78.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Thursday, April 24th will be given a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is presently 46.18%.

Institutional Investors Weigh In On Royal Bank of Canada

Institutional investors have recently added to or reduced their stakes in the stock. Intact Investment Management Inc. raised its position in shares of Royal Bank of Canada by 84.5% during the 1st quarter. Intact Investment Management Inc. now owns 617,316 shares of the financial services provider's stock worth $69,546,000 after purchasing an additional 282,731 shares during the last quarter. Stonegate Investment Group LLC purchased a new position in shares of Royal Bank of Canada in the first quarter valued at approximately $2,996,000. Blue Trust Inc. boosted its stake in shares of Royal Bank of Canada by 1.1% in the first quarter. Blue Trust Inc. now owns 15,718 shares of the financial services provider's stock worth $1,772,000 after acquiring an additional 175 shares during the last quarter. Advisory Resource Group increased its position in shares of Royal Bank of Canada by 5.3% during the first quarter. Advisory Resource Group now owns 8,849 shares of the financial services provider's stock worth $997,000 after purchasing an additional 446 shares in the last quarter. Finally, Community Bank N.A. lifted its holdings in Royal Bank of Canada by 31.3% in the 1st quarter. Community Bank N.A. now owns 10,094 shares of the financial services provider's stock valued at $1,138,000 after purchasing an additional 2,406 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company's stock.

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.

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