76,508 Shares in Royal Bank Of Canada (NYSE:RY) Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC purchased a new position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 76,508 shares of the financial services provider's stock, valued at approximately $8,624,000.

Several other large investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in Royal Bank Of Canada in the fourth quarter valued at about $25,000. WealthTrak Capital Management LLC purchased a new position in Royal Bank Of Canada in the fourth quarter valued at about $28,000. Optiver Holding B.V. purchased a new position in Royal Bank Of Canada in the fourth quarter valued at about $35,000. Transce3nd LLC purchased a new position in Royal Bank Of Canada in the fourth quarter valued at about $37,000. Finally, AdvisorNet Financial Inc increased its holdings in Royal Bank Of Canada by 93.7% in the first quarter. AdvisorNet Financial Inc now owns 368 shares of the financial services provider's stock valued at $41,000 after buying an additional 178 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RY. Wall Street Zen lowered shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. National Bank Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Scotiabank began coverage on shares of Royal Bank Of Canada in a research report on Thursday, May 15th. They issued a "sector outperform" rating on the stock. Cibc World Mkts upgraded shares of Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Finally, Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research report on Monday, June 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $193.00.

Royal Bank Of Canada Stock Down 0.7%

RY opened at $127.17 on Friday. Royal Bank Of Canada has a 12 month low of $102.52 and a 12 month high of $130.00. The business has a 50-day moving average of $123.41 and a two-hundred day moving average of $120.06. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $179.38 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.47 and a beta of 0.89.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The company had revenue of $11.38 billion during the quarter, compared to analyst estimates of $15.77 billion. During the same quarter last year, the business earned $2.92 EPS. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, research analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be paid a dividend of $1.1152 per share. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 annualized dividend and a yield of 3.51%. Royal Bank Of Canada's payout ratio is 45.67%.

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, 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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