Royal Bank Of Canada (NYSE:RY) Issues Earnings Results

Royal Bank Of Canada (NYSE:RY) (TSE:RY) released its earnings results on Wednesday. The financial services provider reported $2.76 EPS for the quarter, topping the consensus estimate of $2.53 by $0.23, Zacks reports. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.

Royal Bank Of Canada Stock Up 1.0%

NYSE:RY opened at $154.42 on Wednesday. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $155.12. The company has a market cap of $216.29 billion, a price-to-earnings ratio of 16.31, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86. The stock has a fifty day simple moving average of $147.59 and a 200-day simple moving average of $138.80. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11.

Institutional Investors Weigh In On Royal Bank Of Canada

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC boosted its position in Royal Bank Of Canada by 5.3% in the 2nd quarter. EP Wealth Advisors LLC now owns 3,058 shares of the financial services provider’s stock valued at $402,000 after buying an additional 155 shares during the period. Ewing Morris & Co. Investment Partners Ltd. raised its stake in shares of Royal Bank Of Canada by 0.5% during the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 29,695 shares of the financial services provider’s stock valued at $3,906,000 after acquiring an additional 157 shares in the last quarter. Pathstone Holdings LLC boosted its holdings in shares of Royal Bank Of Canada by 0.3% in the third quarter. Pathstone Holdings LLC now owns 66,712 shares of the financial services provider’s stock valued at $9,828,000 after purchasing an additional 178 shares during the period. Smartleaf Asset Management LLC grew its stake in Royal Bank Of Canada by 86.5% in the second quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 180 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in Royal Bank Of Canada during the 3rd quarter worth $27,000. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Cowen reaffirmed a “hold” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Jefferies Financial Group downgraded Royal Bank Of Canada from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Wednesday, October 8th. Finally, Argus raised their price target on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the company a “buy” rating in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.50.

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.