Royal Bank of Canada (NYSE:RY) Short Interest Down 38.8% in February

Royal Bank of Canada (NYSE:RY) (TSE:RY) was the recipient of a large drop in short interest in February. As of February 28th, there was short interest totalling 6,460,000 shares, a drop of 38.8% from the February 13th total of 10,560,000 shares. Approximately 0.5% of the shares of the stock are sold short. Based on an average daily volume of 1,120,000 shares, the short-interest ratio is currently 5.8 days.

Royal Bank of Canada Stock Up 1.1 %

NYSE RY traded up $1.17 on Monday, reaching $112.66. The company had a trading volume of 1,283,517 shares, compared to its average volume of 1,004,590. The firm has a market capitalization of $159.04 billion, a PE ratio of 13.64, a P/E/G ratio of 1.80 and a beta of 0.88. The firm has a 50-day moving average of $118.61 and a 200-day moving average of $121.54. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 45.96%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on RY shares. CIBC reaffirmed a “neutral” rating on shares of Royal Bank of Canada in a research note on Wednesday, March 5th. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Finally, BMO Capital Markets reduced their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

Hedge Funds Weigh In On Royal Bank of Canada

A number of institutional investors have recently made changes to their positions in RY. Wealth Enhancement Advisory Services LLC increased its position in shares of Royal Bank of Canada by 7.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,189 shares of the financial services provider’s stock worth $4,000,000 after purchasing an additional 2,340 shares during the last quarter. Old North State Trust LLC grew its stake in Royal Bank of Canada by 6.0% in the fourth quarter. Old North State Trust LLC now owns 8,554 shares of the financial services provider’s stock worth $1,031,000 after purchasing an additional 486 shares in the last quarter. Park Square Financial Group LLC bought a new stake in Royal Bank of Canada in the fourth quarter valued at about $25,000. Brucke Financial Inc. acquired a new stake in Royal Bank of Canada during the fourth quarter valued at approximately $472,000. Finally, Canerector Inc. bought a new position in Royal Bank of Canada during the 4th quarter worth approximately $7,833,000. 45.31% of the stock is owned by institutional investors and hedge funds.

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.