First National Bank of Omaha Makes New Investment in Royal Bank Of Canada $RY

First National Bank of Omaha bought a new stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 33,406 shares of the financial services provider's stock, valued at approximately $6,841,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of RY. Echo45 Advisors LLC increased its position in Royal Bank Of Canada by 5.0% during the first quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider's stock valued at $204,000 after acquiring an additional 60 shares during the last quarter. Key Financial Inc grew its stake in shares of Royal Bank Of Canada by 63.0% during the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 63 shares during the period. Apella Capital LLC increased its position in shares of Royal Bank Of Canada by 3.1% during the 2nd quarter. Apella Capital LLC now owns 2,155 shares of the financial services provider's stock valued at $451,000 after purchasing an additional 64 shares during the last quarter. Alta Capital Management LLC lifted its stake in shares of Royal Bank Of Canada by 4.0% in the 4th quarter. Alta Capital Management LLC now owns 1,686 shares of the financial services provider's stock worth $287,000 after purchasing an additional 65 shares during the period. Finally, Fiduciary Financial Group LLC boosted its holdings in shares of Royal Bank Of Canada by 3.5% in the second quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the financial services provider's stock worth $419,000 after buying an additional 68 shares during the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Trading Down 1.4%

RY stock opened at $213.08 on Wednesday. The company has a market capitalization of $295.45 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 1.71 and a beta of 0.80. The business has a 50 day simple moving average of $208.14 and a two-hundred day simple moving average of $185.98. Royal Bank Of Canada has a 1-year low of $135.92 and a 1-year high of $218.57. The company has a debt-to-equity ratio of 0.10, 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 announced its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.81 by $0.03. The company had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. Royal Bank Of Canada's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.12 EPS. Research analysts anticipate that Royal Bank Of Canada will post 11.47 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be issued a dividend of $1.76 per share. This is a positive change from Royal Bank Of Canada's previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. This represents a $7.04 annualized dividend and a dividend yield of 3.3%. Royal Bank Of Canada's payout ratio is currently 44.56%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, July 29th. Raymond James Financial cut shares of Royal Bank Of Canada from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 12th. Scotiabank restated an "outperform" rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, Argus set a $225.00 price objective on Royal Bank Of Canada in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Royal Bank Of Canada currently has an average rating of "Moderate Buy" and an average target price of $225.00.

Royal Bank Of Canada 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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