Entropy Technologies LP Grows Stock Position in Royal Bank Of Canada (NYSE:RY)

Key Points

• Entropy Technologies LP increased its stake in Royal Bank of Canada by 110.5%, acquiring 14,334 additional shares, bringing its total to 27,306 shares worth approximately $3,078,000.
• Royal Bank of Canada reported $2.20 earnings per share for the last quarter, falling short of analysts' expectations of $2.25, and recorded a revenue of $11.38 billion compared to an expected $15.77 billion.
• The company announced an increase in its quarterly dividend to $1.1152 per share, yielding 3.4%, with the ex-dividend date set for July 24th.

Entropy Technologies LP grew its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 110.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,306 shares of the financial services provider's stock after buying an additional 14,334 shares during the period. Entropy Technologies LP's holdings in Royal Bank Of Canada were worth $3,078,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in RY. Park Square Financial Group LLC purchased a new stake in Royal Bank Of Canada in the fourth quarter worth $25,000. Sunbelt Securities Inc. raised its position 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 worth $29,000 after purchasing an additional 250 shares during the last quarter. Optiver Holding B.V. purchased a new position in shares of Royal Bank Of Canada in the 4th quarter worth about $35,000. Transce3nd LLC purchased a new position in shares of Royal Bank Of Canada in the 4th quarter worth about $37,000. Finally, Cullen Frost Bankers Inc. raised its position in shares of Royal Bank Of Canada by 295.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock worth $39,000 after purchasing an additional 257 shares during 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 issued reports on RY. Wall Street Zen lowered Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research report on Monday, June 9th. CIBC reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. Scotiabank began coverage on Royal Bank Of Canada in a report on Thursday, May 15th. They set a "sector outperform" rating on the stock. Finally, National Bank Financial downgraded Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $193.00.

Royal Bank Of Canada Stock Performance

Shares of NYSE:RY traded up $1.31 during midday trading on Tuesday, reaching $134.74. 874,974 shares of the company's stock traded hands, compared to its average volume of 1,259,076. The company has a market cap of $189.42 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 1.53 and a beta of 0.89. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $135.09. The stock has a 50 day moving average of $130.47 and a 200 day moving average of $122.49.

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 (EPS) 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 business had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $15.77 billion. During the same period in the previous year, the company earned $2.92 earnings per share. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared 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. This represents a $4.46 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Thursday, July 24th. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's payout ratio is currently 50.33%.

About Royal Bank Of Canada

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.