Royal Bank Of Canada (NYSE:RY) Short Interest Down 29.9% in September

Royal Bank Of Canada (NYSE:RY) (TSE:RY) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 4,670,000 shares, a decline of 29.9% from the August 31st total of 6,660,000 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 1,090,000 shares, the short-interest ratio is currently 4.3 days. Based on an average daily volume of 1,090,000 shares, the short-interest ratio is currently 4.3 days. Approximately 0.3% of the company’s stock are short sold.

Analysts Set New Price Targets

RY has been the topic of a number of research analyst reports. Cowen restated a “hold” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Wall Street Zen raised shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Argus raised their target price on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $177.50.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $146.95 on Monday. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $149.26. The firm’s 50 day moving average price is $140.52 and its 200-day moving average price is $129.50. The stock has a market capitalization of $206.52 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.49 and a beta of 0.86. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.43. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The business had revenue of $12.26 billion during the quarter, compared to analyst estimates of $16.03 billion. During the same quarter in the prior year, the business posted $3.26 EPS. Royal Bank Of Canada’s revenue for the quarter was up 16.1% compared to the same quarter last year. Equities research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Brighton Jones LLC increased its stake in shares of Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after buying an additional 575 shares during the period. GAMMA Investing LLC lifted its stake in Royal Bank Of Canada by 236,616.7% during the 1st quarter. GAMMA Investing LLC now owns 14,203 shares of the financial services provider’s stock valued at $1,601,000 after acquiring an additional 14,197 shares during the period. Sivia Capital Partners LLC raised its position in Royal Bank Of Canada by 2.8% during the first quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider’s stock valued at $378,000 after acquiring an additional 91 shares in the last quarter. KMG Fiduciary Partners LLC raised its position in shares of Royal Bank Of Canada by 10.8% in the first quarter. KMG Fiduciary Partners LLC now owns 19,467 shares of the financial services provider’s stock worth $2,194,000 after acquiring an additional 1,891 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in Royal Bank Of Canada by 10.2% in the 1st quarter. Farther Finance Advisors LLC now owns 8,956 shares of the financial services provider’s stock valued at $1,018,000 after acquiring an additional 831 shares during the period. Institutional investors 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.