Colonial Trust Advisors Takes $1.45 Million Position in Royal Bank of Canada (NYSE:RY)

Colonial Trust Advisors bought a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, HoldingsChannel reports. The firm bought 17,620 shares of the financial services provider’s stock, valued at approximately $1,446,000.

Several other institutional investors also recently modified their holdings of RY. Nexus Investment Management ULC raised its stake in shares of Royal Bank of Canada by 0.9% in the 3rd quarter. Nexus Investment Management ULC now owns 497,382 shares of the financial services provider’s stock valued at $34,894,000 after purchasing an additional 4,630 shares in the last quarter. Creative Financial Designs Inc. ADV raised its stake in Royal Bank of Canada by 1.8% during the third quarter. Creative Financial Designs Inc. ADV now owns 8,524 shares of the financial services provider’s stock worth $598,000 after acquiring an additional 150 shares during the period. Cypress Capital Group raised its stake in Royal Bank of Canada by 7.6% during the third quarter. Cypress Capital Group now owns 6,438 shares of the financial services provider’s stock worth $452,000 after acquiring an additional 455 shares during the period. JCIC Asset Management Inc. raised its stake in Royal Bank of Canada by 1.8% during the third quarter. JCIC Asset Management Inc. now owns 126,345 shares of the financial services provider’s stock worth $8,869,000 after acquiring an additional 2,263 shares during the period. Finally, Clarius Group LLC acquired a new stake in Royal Bank of Canada during the third quarter worth about $257,000. Institutional investors and hedge funds own 40.81% of the company’s stock.

RY has been the topic of several research reports. Barclays increased their price objective on shares of Royal Bank of Canada from $108.00 to $112.00 and gave the stock an “overweight” rating in a research note on Thursday, November 12th. Veritas Investment Research upgraded shares of Royal Bank of Canada from a “sell” rating to a “buy” rating in a research note on Thursday, October 29th. Zacks Investment Research upgraded shares of Royal Bank of Canada from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a research note on Friday, November 20th. CIBC increased their price objective on shares of Royal Bank of Canada from $127.00 to $128.00 and gave the stock a “neutral” rating in a research note on Thursday, December 3rd. Finally, Scotiabank raised their price target on shares of Royal Bank of Canada from $122.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, December 3rd. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Royal Bank of Canada has a consensus rating of “Buy” and an average price target of $104.68.

Shares of Royal Bank of Canada stock traded up $0.59 on Monday, hitting $81.46. The company had a trading volume of 33,611 shares, compared to its average volume of 1,208,447. The business has a 50-day simple moving average of $83.20 and a 200-day simple moving average of $76.39. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market cap of $116.01 billion, a PE ratio of 13.80, a PEG ratio of 1.75 and a beta of 0.99. Royal Bank of Canada has a 52 week low of $49.55 and a 52 week high of $86.14.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Tuesday, December 1st. The financial services provider reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.73. The business had revenue of $11.09 billion during the quarter, compared to analysts’ expectations of $11.45 billion. Royal Bank of Canada had a net margin of 18.78% and a return on equity of 14.84%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $2.18 earnings per share. On average, equities research analysts predict that Royal Bank of Canada will post 6.62 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 24th. Stockholders of record on Tuesday, January 26th will be issued a $0.811 dividend. The ex-dividend date of this dividend is Monday, January 25th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.81. This represents a $3.24 annualized dividend and a dividend yield of 3.98%. Royal Bank of Canada’s dividend payout ratio (DPR) is 57.17%.

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, 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.

Recommended Story: How can you know how many shares are floating?

Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank of Canada (NYSE:RY) (TSE:RY).

Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

Receive News & Ratings for Royal Bank of Canada Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Royal Bank of Canada and related companies with MarketBeat.com’s FREE daily email newsletter.