Short Interest in Royal Bank Of Canada (NYSE:RY) Increases By 56.9%

Royal Bank Of Canada (NYSE:RY) (TSE:RY) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 5,258,072 shares, an increase of 56.9% from the August 15th total of 3,350,969 shares. Based on an average daily volume of 1,453,841 shares, the short-interest ratio is presently 3.6 days. Currently, 0.4% of the company’s shares are short sold.

Royal Bank Of Canada Price Performance

RY opened at $203.34 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $281.95 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.83 and a beta of 0.79. The stock’s 50 day moving average price is $209.22 and its 200-day moving average price is $191.62. Royal Bank Of Canada has a 52-week low of $143.13 and a 52-week high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 EPS for the quarter, topping analysts’ consensus estimates of $2.89 by $0.18. The company had revenue of $13.22 billion during the quarter, compared to analyst estimates of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. On average, equities research analysts predict that Royal Bank Of Canada will post 11.83 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be paid a dividend of $1.76 per share. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. Royal Bank Of Canada’s payout ratio is presently 43.39%.

Hedge Funds Weigh In On Royal Bank Of Canada

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd purchased a new position in shares of Royal Bank Of Canada during the 4th quarter worth approximately $25,000. Key Financial Inc lifted its stake in shares of Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 63 shares during the period. BOK Financial Private Wealth Inc. bought a new stake in shares of Royal Bank Of Canada during the second quarter valued at approximately $28,000. Maseco LLP grew its stake in Royal Bank Of Canada by 355.0% in the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares during the period. Finally, Highland Investment Advisors LLC purchased a new stake in Royal Bank Of Canada in the second quarter worth $31,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

RY has been the subject of a number of recent research reports. Keefe, Bruyette & Woods initiated coverage on Royal Bank Of Canada in a research note on Friday, August 21st. They issued a “market perform” rating for the company. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Argus set a $225.00 price target on Royal Bank Of Canada in a research note on Thursday, June 11th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. Finally, Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (RBC) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it is one of Canada’s largest banks and serves individuals, businesses, institutions and governments.

RBC provides personal and commercial banking products, including deposit accounts, mortgages, consumer and business loans, credit cards and payment services. Through its wealth management operations, the company offers investment advice, brokerage, asset management, trust and estate services, and private banking.