Gulf International Bank UK Ltd Increases Stake in Royal Bank Of Canada (NYSE:RY)

Key Points

• Gulf International Bank UK Ltd significantly increased its stake in the Royal Bank Of Canada by 2,614.0%, owning 81,340 shares valued at approximately $9.17 million as of the latest SEC filing.
• Royal Bank Of Canada recently announced a quarterly dividend of $1.1152, up from its previous dividend of $1.03, indicating a boost in its annual dividend yield to 3.3%.
• Wall Street analysts have mixed reviews on Royal Bank Of Canada, with one analyst rating it a sell, while others provide ratings ranging from hold to strong buy, resulting in an average rating of "Moderate Buy".

Gulf International Bank UK Ltd increased its position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 2,614.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 81,340 shares of the financial services provider's stock after acquiring an additional 78,343 shares during the quarter. Gulf International Bank UK Ltd's holdings in Royal Bank Of Canada were worth $9,169,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new position in Royal Bank Of Canada during the 4th quarter valued at about $25,000. Sunbelt Securities Inc. grew 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 valued at $29,000 after buying an additional 250 shares in the last quarter. Optiver Holding B.V. bought a new position in shares of Royal Bank Of Canada in the fourth quarter worth approximately $35,000. Transce3nd LLC purchased a new stake in Royal Bank Of Canada in the fourth quarter valued at approximately $37,000. Finally, Cullen Frost Bankers Inc. raised 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 purchasing an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

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

Royal Bank Of Canada Price Performance

RY opened at $134.74 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $189.42 billion, a P/E ratio of 14.97, a P/E/G ratio of 1.53 and a beta of 0.89. The company's 50-day simple moving average is $130.47 and its two-hundred day simple moving average is $122.49. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $135.09.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its earnings results on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing analysts' consensus estimates of $2.25 by ($0.05). Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The firm had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $15.77 billion. During the same quarter in the previous year, the business posted $2.92 EPS. Royal Bank Of Canada's revenue was up 10.7% on a year-over-year basis. As a group, analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors 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 3.3%. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Thursday, July 24th. Royal Bank Of Canada's payout ratio is 50.33%.

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.

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