BNP Paribas Makes New $3.53 Million Investment in Royal Bank Of Canada $RY

Key Points

• BNP Paribas opened a new position in Royal Bank of Canada during the fourth quarter, buying 20,635 shares valued at about $3.53 million.
• Royal Bank of Canada beat quarterly expectations, reporting EPS of $2.84 on revenue of $12.84 billion, with revenue up 11.4% from a year earlier.
• The bank also raised its quarterly dividend to $1.76 per share, implying an annualized payout of $7.04 and a 3.7% yield.

BNP Paribas acquired a new position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 20,635 shares of the financial services provider's stock, valued at approximately $3,527,000.

Several other large investors also recently bought and sold shares of the company. Florida Trust Wealth Management Co increased its stake in Royal Bank Of Canada by 2.8% during the 4th quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider's stock worth $373,000 after buying an additional 60 shares in the last quarter. Fiduciary Financial Group LLC grew its position in shares of Royal Bank Of Canada by 3.4% in the fourth quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider's stock valued at $320,000 after purchasing an additional 61 shares in the last quarter. Alta Capital Management LLC grew its position in shares of Royal Bank Of Canada by 4.0% in the fourth quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider's stock valued at $287,000 after purchasing an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Royal Bank Of Canada by 1.6% in the third quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider's stock valued at $713,000 after purchasing an additional 74 shares in the last quarter. Finally, Burney Co. grew its position in shares of Royal Bank Of Canada by 1.7% in the fourth quarter. Burney Co. now owns 4,425 shares of the financial services provider's stock valued at $754,000 after purchasing an additional 76 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Down 0.5%

NYSE:RY opened at $188.64 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. The stock's fifty day moving average is $175.83 and its two-hundred day moving average is $168.90. Royal Bank Of Canada has a 52 week low of $126.02 and a 52 week high of $191.51. The stock has a market capitalization of $263.66 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 1.48 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.03. The business had revenue of $12.84 billion for the quarter, compared to analysts' expectations of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.The company's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $3.12 earnings per share. Research analysts anticipate that Royal Bank Of Canada will post 11.53 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be paid a $1.76 dividend. The ex-dividend date is Monday, July 27th. 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 dividend yield of 3.7%. Royal Bank Of Canada's payout ratio is 42.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RY shares. Weiss Ratings lowered Royal Bank Of Canada from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 18th. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Royal Bank Of Canada in a research report on Friday. TD Securities restated a "buy" rating on shares of Royal Bank Of Canada in a research report on Friday. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Finally, Raymond James Financial lowered Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research report on Tuesday, May 12th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.00.

Royal Bank Of Canada Company Profile

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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