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.
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