Economy

Royal Bank of Canada (RY) Announces Dividend Increase - $0.91 Per Share

Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company.

According to Zacks, "ROYAL BANK of Canada operate under the master brand name of RBC". BMO Capital Markets maintained Royal Bank of Canada (TSE:RY) rating on Thursday, August 24. They have employee approximately Seventy Thousant full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the USA and 36 other countries.

A number of research firms have weighed in on RY. Bank of America maintained Royal Bank of Canada (NYSE:RY) on Thursday, August 27 with "Buy" rating. BidaskClub lowered Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, August 5th. As per Monday, November 21, the company rating was upgraded by TD Securities. Finally, Macquarie began coverage on Royal Bank Of Canada in a report on Tuesday, October 24th. They issued an "underperform" rating on the stock. The stock of Royal Bank of Canada (NYSE:RY) has "Buy" rating given on Wednesday, September 14 by Citigroup. Royal Bank of Canada (NYSE:RY) has risen 16.29% since November 8, 2016 and is uptrending. Royal Bank Of Canada has a 52 week low of $61.62 and a 52 week high of $80.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.89 and a current ratio of 0.89. RY's profit will be $2.23B for 13.02 P/E if the $1.52 EPS becomes a reality.

Analysts await Royal Bank of Canada (NYSE:RY) to report earnings on November, 29. The financial services provider reported $1.41 EPS for the quarter, missing the consensus estimate of $1.42 by ($0.01). Royal Bank Of Canada had a net margin of 22.98% and a return on equity of 16.63%. After having $1.89 EPS previously, Royal Bank of Canada's analysts see 0.53% EPS growth. Canaccord Genuity upped their target price on Royal Bank of Canada from C$100.00 to C$105.00 in a research note on Wednesday, November 1st. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of USA and worldwide copyright law.

Several large investors have recently modified their holdings of RY. The Bank Of Nova Scotia holds 9.45M shares with $686.03 million value, down from 27.17 million last quarter. The stock declined 0.76% or $0.61 reaching $79.15 per share.

Royal Bank of Canada (RBC), is a diversified financial services company. Public Sector Pension investment Board now owns 2,886,401 shares of the financial services provider's stock worth $209,273,000 after purchasing an additional 2,864,500 shares during the last quarter. Asset Advisors Corp purchased a new position in shares of Royal Bank Of Canada in the 3rd quarter worth $178,000. Canada Pension Plan Investment Board now owns 2,452,201 shares of the financial services provider's stock worth $177,793,000 after purchasing an additional 2,344,101 shares during the last quarter. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $0.64. Quadrant Capital Group LLC now owns 1,709 shares of the financial services provider's stock worth $102,000 after buying an additional 65 shares in the last quarter.

More notable recent Royal Bank of Canada (NYSE:RY) news were published by: Cnbc.com which released: "Bitcoin 'doesn't solve a main need in society right now, ' says Royal Bank of ..." on October 23, 2017, also Reuters.com with their article: "MOVES-Eaton Vance, Royal Bank of Canada" published on October 26, 2017, Investorplace.com published: "Superior Earnings Visibility Keeps Royal Bank of Canada (RY) a Buy" on October 31, 2017. Jolley Asset Management LLC grew its stake in shares of Royal Bank Of Canada by 1.0% in the 2nd quarter. The institutional investor held 6.45 million shares of the commercial banks company at the end of 2017Q2, valued at $466.19M, down from 6.69 million at the end of the previous reported quarter.



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