Dorsey & Whitney Trust CO LLC Acquires New Stake in Royal Bank Of Canada $RY

Key Points

• Dorsey & Whitney Trust CO LLC acquired a new position in the Royal Bank of Canada, buying 1,851 shares valued at approximately $209,000.
• Royal Bank of Canada recently announced a quarterly dividend increase to $1.1152 per share, raising its annualized dividend to $4.46 with a yield of 3.2%.
• The bank reported a quarterly earnings miss, with $2.20 earnings per share, falling short of the $2.25 consensus estimate.

Dorsey & Whitney Trust CO LLC purchased a new position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,851 shares of the financial services provider's stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Park Square Financial Group LLC bought a new stake in Royal Bank Of Canada during the 4th quarter valued at $25,000. Sunbelt Securities Inc. lifted its holdings in 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 purchasing an additional 250 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Royal Bank Of Canada in the 1st quarter worth about $32,000. Optiver Holding B.V. purchased a new position in Royal Bank Of Canada during the 4th quarter valued at about $35,000. Finally, Cullen Frost Bankers Inc. increased its position in shares of Royal Bank Of Canada by 295.4% during the first quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock valued at $39,000 after buying an additional 257 shares during the period. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY traded up $0.76 during trading on Thursday, hitting $146.02. 697,779 shares of the company's stock were exchanged, compared to its average volume of 1,239,559. The business's 50-day simple moving average is $132.55 and its 200 day simple moving average is $123.73. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $147.64. The company has a market cap of $205.19 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.59 and a beta of 0.89. 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 (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.43. Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%.The business had revenue of $12.26 billion for the quarter, compared to analysts' expectations of $16.03 billion. During the same period in the prior year, the firm earned $3.26 EPS. The company's revenue for the quarter was up 16.1% on a year-over-year basis. As a group, equities analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RY. Wall Street Zen lowered Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. CIBC reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. National Bank Financial cut shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Finally, Scotiabank assumed coverage on Royal Bank Of Canada in a report on Thursday, May 15th. They set a "sector outperform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Royal Bank Of Canada has a consensus rating of "Moderate Buy" and a consensus target price of $193.00.

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.