Cetera Investment Advisers Has $5.03 Million Position in Royal Bank Of Canada (NYSE:RY)

Key Points

• Cetera Investment Advisers has increased its stake in the Royal Bank of Canada by 9.9%, owning a total of 44,605 shares valued at approximately $5,028,000.
• Royal Bank of Canada is set to increase its quarterly dividend to $1.1152 per share, yielding 3.5%, reflecting a rise from the previous dividend of $1.03.
• In its latest earnings report, the bank reported $2.20 EPS, missing analysts' expectations, with quarterly revenue of $11.38 billion compared to the expected $15.77 billion.

Cetera Investment Advisers lifted its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 9.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,605 shares of the financial services provider's stock after acquiring an additional 4,022 shares during the quarter. Cetera Investment Advisers' holdings in Royal Bank Of Canada were worth $5,028,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of RY. Park Square Financial Group LLC bought a new position in Royal Bank Of Canada in the fourth quarter valued at about $25,000. Sunbelt Securities Inc. grew its position in shares of Royal Bank Of Canada by 2,272.7% during the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock worth $29,000 after buying an additional 250 shares during the period. Optiver Holding B.V. bought a new stake in shares of Royal Bank Of Canada during the fourth quarter worth approximately $35,000. Transce3nd LLC acquired a new position in Royal Bank Of Canada in the fourth quarter valued at approximately $37,000. Finally, Cullen Frost Bankers Inc. boosted its stake in Royal Bank Of Canada by 295.4% in the first quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 257 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Royal Bank Of Canada Stock Up 1.0%

RY traded up $1.33 during trading on Monday, reaching $129.94. The company had a trading volume of 386,417 shares, compared to its average volume of 1,248,310. The company has a market cap of $182.66 billion, a P/E ratio of 14.44, a PEG ratio of 1.47 and a beta of 0.89. Royal Bank Of Canada has a 12 month low of $102.89 and a 12 month high of $134.26. 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 business's fifty day moving average price is $129.81 and its 200 day moving average price is $121.97.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its 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). The company had revenue of $11.38 billion during the quarter, compared to analyst estimates of $15.77 billion. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. Royal Bank Of Canada's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.92 earnings per share. Equities analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th will be issued a $1.1152 dividend. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.4%. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. The ex-dividend date is Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio is 50.22%.

Royal Bank Of Canada 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.