Royal Bank of Canada (NYSE:RY) Short Interest Update
Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY was the target of a large increase in short interest in April. As of April 15th, there was short interest totalling 19,010,000 shares, an increase of 129.9% from the March 31st total of 8,270,000 shares. Based on an average daily trading volume, of 1,380,000 shares, the short-interest ratio is currently 13.8 days. Approximately 1.4% of the shares of the company are sold short.
Several hedge funds have recently bought and sold shares of RY. Charles Schwab Investment Management Inc. grew its holdings in Royal Bank of Canada by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider's stock valued at $427,589,000 after buying an additional 64,450 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Royal Bank of Canada during the 4th quarter valued at $60,034,000. Wealth High Governance Capital Ltda acquired a new stake in Royal Bank of Canada during the 4th quarter valued at $10,243,000. Jones Financial Companies Lllp grew its holdings in Royal Bank of Canada by 1,322.0% during the 4th quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider's stock valued at $483,000 after buying an additional 3,728 shares during the last quarter. Finally, APG Asset Management N.V. grew its holdings in Royal Bank of Canada by 1,600.9% during the 4th quarter. APG Asset Management N.V. now owns 1,427,075 shares of the financial services provider's stock valued at $166,084,000 after buying an additional 1,343,174 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.
NYSE RY traded up $0.81 during mid-day trading on Monday, hitting $118.57. The stock had a trading volume of 1,006,227 shares, compared to its average volume of 1,101,753. Royal Bank of Canada has a 52-week low of $96.52 and a 52-week high of $128.05. The company has a market cap of $167.38 billion, a price-to-earnings ratio of 14.35, a P/E/G ratio of 1.80 and a beta of 0.82. The company has a 50 day simple moving average of $114.57 and a 200 day simple moving average of $119.63. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be paid a $1.0251 dividend. This represents a $4.10 annualized dividend and a yield of 3.46%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada's payout ratio is currently 46.18%.
A number of brokerages have recently issued reports on RY. Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. StockNews.com raised Royal Bank of Canada from a "sell" rating to a "hold" rating in a research note on Friday, February 28th. Finally, CIBC raised Royal Bank of Canada from a "neutral" rating to a "sector outperform" rating in a research note on Friday, April 4th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Royal Bank of Canada has an average rating of "Buy" and an average price target of $156.50.
Check Out Our Latest Stock Analysis on 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.
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