Royal Bank Of Canada (NYSE:RY) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 1.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,305,542 shares of the financial services provider's stock after acquiring an additional 19,686 shares during the period. Bank of New York Mellon Corp owned approximately 0.09% of Royal Bank Of Canada worth $147,161,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Park Square Financial Group LLC purchased a new stake in shares of Royal Bank Of Canada in the 4th quarter valued at approximately $25,000. WealthTrak Capital Management LLC acquired a new stake in Royal Bank Of Canada during the 4th quarter worth approximately $28,000. Sunbelt Securities Inc. raised its holdings in shares of Royal Bank Of Canada by 2,272.7% in the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 250 shares in the last quarter. Optiver Holding B.V. acquired a new stake in shares of Royal Bank Of Canada in the 4th quarter valued at $35,000. Finally, Transce3nd LLC acquired a new stake in shares of Royal Bank Of Canada in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 45.31% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RY. Scotiabank began coverage on shares of Royal Bank Of Canada in a report on Thursday, May 15th. They issued a "sector outperform" rating on the stock. National Bank Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a report on Monday, June 9th. CIBC reiterated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. Finally, Wall Street Zen downgraded shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $193.00.

Royal Bank Of Canada Stock Performance

Shares of RY traded up $1.19 during midday trading on Thursday, reaching $133.62. 160,587 shares of the stock were exchanged, compared to its average volume of 1,231,651. The business's 50-day moving average price is $126.92 and its 200 day moving average price is $120.64. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. Royal Bank Of Canada has a twelve month low of $102.89 and a twelve month high of $133.76. The company has a market capitalization of $188.49 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 1.51 and a beta of 0.89.

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

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th will be given a dividend of $1.1152 per share. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.34%. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's payout ratio is 50.22%.

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.