16,101 Shares in Royal Bank Of Canada $RY Purchased by AMG National Trust Bank

Key Points

• AMG National Trust Bank initiated a position in Royal Bank of Canada, purchasing 16,101 shares valued at approximately $3.33 million. Institutional investors collectively own 45.31% of the bank’s shares.
• RBC reported quarterly earnings of $2.84 per share, exceeding estimates of $2.81, while revenue rose 11.4% year over year to $12.84 billion.
• The bank increased its quarterly dividend from $1.64 to $1.76 per share, implying an annualized dividend of $7.04 and a 3.2% yield. Analysts maintain a “Moderate Buy” consensus with a $225 price target.

AMG National Trust Bank bought a new position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 16,101 shares of the financial services provider's stock, valued at approximately $3,332,000.

Several other institutional investors also recently modified their holdings of RY. Vanguard Group Inc. boosted its stake in Royal Bank Of Canada by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider's stock valued at $11,529,165,000 after acquiring an additional 1,290,142 shares during the last quarter. FIL Ltd grew its position in shares of Royal Bank Of Canada by 1.1% during the 4th quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider's stock valued at $3,965,133,000 after acquiring an additional 255,465 shares during the period. Norges Bank purchased a new stake in shares of Royal Bank Of Canada during the 4th quarter worth approximately $3,472,382,000. Bank of Nova Scotia raised its holdings in shares of Royal Bank Of Canada by 1.6% in the 4th quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider's stock worth $2,596,904,000 after purchasing an additional 238,589 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Royal Bank Of Canada by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider's stock worth $2,389,773,000 after purchasing an additional 882,253 shares during the period. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Stock Performance

Shares of RY opened at $216.67 on Monday. Royal Bank Of Canada has a 52-week low of $135.92 and a 52-week high of $218.57. The stock's 50-day simple moving average is $207.42 and its 200 day simple moving average is $185.32. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $300.44 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 1.71 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The business had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. During the same quarter in the previous year, the firm earned $3.12 EPS. The company's quarterly revenue was up 11.4% compared to the same quarter last year. Research analysts forecast that Royal Bank Of Canada will post 11.47 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a dividend of $1.76 per share. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada's dividend payout ratio is presently 44.56%.

Analyst Ratings Changes

RY has been the subject of several research reports. Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. TD Securities restated a "buy" rating on shares of Royal Bank Of Canada in a research note on Wednesday. Argus set a $225.00 price target on Royal Bank Of Canada in a research report on Thursday, June 11th. Weiss Ratings upgraded Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, July 29th. Finally, Raymond James Financial lowered Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada has a consensus rating of "Moderate Buy" and a consensus price target of $225.00.

About Royal Bank Of Canada

Royal Bank of Canada NYSE: RY is a diversified financial services company and one of Canada's largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.

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