First Citizens Bank & Trust Co. lessened its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 37.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,387 shares of the financial services provider’s stock after selling 2,010 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Royal Bank of Canada were worth $278,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of RY. FMR LLC raised its position in shares of Royal Bank of Canada by 22.4% in the 2nd quarter. FMR LLC now owns 5,476,492 shares of the financial services provider’s stock valued at $371,567,000 after buying an additional 1,002,340 shares in the last quarter. Private Advisor Group LLC bought a new stake in Royal Bank of Canada during the second quarter worth $138,000. Stephens Inc. AR boosted its holdings in shares of Royal Bank of Canada by 0.4% in the 2nd quarter. Stephens Inc. AR now owns 41,773 shares of the financial services provider’s stock valued at $1,166,000 after purchasing an additional 148 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of Royal Bank of Canada by 17.2% in the 2nd quarter. Neuberger Berman Group LLC now owns 440,631 shares of the financial services provider’s stock valued at $29,983,000 after purchasing an additional 64,729 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Royal Bank of Canada during the 2nd quarter worth $2,036,000. 40.16% of the stock is owned by institutional investors and hedge funds.
NYSE RY opened at $85.06 on Friday. The company has a market capitalization of $121.11 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.84 and a beta of 0.94. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. Royal Bank of Canada has a twelve month low of $49.55 and a twelve month high of $86.14. The stock has a fifty day simple moving average of $82.77 and a 200 day simple moving average of $75.26.
Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Tuesday, December 1st. The financial services provider reported $2.27 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.73. The firm had revenue of $11.09 billion for the quarter, compared to analyst estimates of $11.45 billion. Royal Bank of Canada had a return on equity of 14.86% and a net margin of 17.78%. The business’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.18 EPS. Research analysts expect that Royal Bank of Canada will post 5.68 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 24th. Investors 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 yield of 3.81%. Royal Bank of Canada’s dividend payout ratio is presently 48.43%.
A number of research firms have issued reports on RY. Zacks Investment Research upgraded Royal Bank of Canada from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Friday, November 20th. Veritas Investment Research upgraded shares of Royal Bank of Canada from a “sell” rating to a “buy” rating in a research report on Thursday, October 29th. Barclays raised their target price on shares of Royal Bank of Canada from $108.00 to $112.00 and gave the company an “overweight” rating in a research report on Thursday, November 12th. CIBC upped their price target on shares of Royal Bank of Canada from $127.00 to $128.00 and gave the stock a “neutral” rating in a report on Thursday, December 3rd. Finally, Canaccord Genuity raised their price objective on Royal Bank of Canada from $107.50 to $113.50 and gave the company a “hold” rating in a report on Thursday, December 3rd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $104.68.
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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