Royal Bank of Canada (NYSE:RY) Short Interest Down 19.7% in December

Royal Bank of Canada (NYSE:RY) (TSE:RY) was the target of a large decrease in short interest in December. As of December 15th, there was short interest totalling 6,350,000 shares, a decrease of 19.7% from the November 30th total of 7,910,000 shares. Based on an average daily volume of 1,090,000 shares, the short-interest ratio is presently 5.8 days. Currently, 0.5% of the shares of the stock are short sold.

Institutional Investors Weigh In On Royal Bank of Canada

Several large investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new stake in Royal Bank of Canada in the third quarter worth $25,000. Dunhill Financial LLC bought a new position in shares of Royal Bank of Canada during the 3rd quarter worth about $25,000. Larson Financial Group LLC acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at about $26,000. Grove Bank & Trust bought a new stake in Royal Bank of Canada in the 3rd quarter valued at about $28,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in Royal Bank of Canada by 110.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after buying an additional 118 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 0.0 %

Shares of RY traded down $0.03 during trading hours on Tuesday, hitting $120.51. 735,814 shares of the stock were exchanged, compared to its average volume of 1,066,202. The firm has a market capitalization of $170.36 billion, a P/E ratio of 14.59, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. 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 has a fifty-two week low of $93.97 and a fifty-two week high of $128.05. The business has a 50-day moving average of $123.37 and a 200-day moving average of $118.13.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be paid a $1.0522 dividend. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.49%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s payout ratio is currently 52.91%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on RY shares. 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 raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, December 20th. BMO Capital Markets reduced their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Two research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

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.