Hilltop National Bank Takes $925,000 Position in Royal Bank Of Canada $RY

Key Points

• Hilltop National Bank has acquired a new stake in the Royal Bank of Canada, purchasing 7,034 shares valued at approximately $925,000 during Q2.
• Royal Bank of Canada reported $2.79 earnings per share for the latest quarter, surpassing analyst estimates of $2.36, despite revenue falling short of expectations at $12.26 billion.
• Recent analyst reports show varied ratings for Royal Bank of Canada, with five analysts giving a Buy rating and six assigning a Hold rating on the stock, which has a price target of $177.50.

Hilltop National Bank purchased a new position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 7,034 shares of the financial services provider's stock, valued at approximately $925,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RY. Sunbelt Securities Inc. boosted its holdings 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 in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Royal Bank Of Canada during the 1st quarter worth approximately $32,000. Cullen Frost Bankers Inc. boosted its holdings in shares of Royal Bank Of Canada by 295.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock worth $39,000 after buying an additional 257 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of Royal Bank Of Canada during the 1st quarter worth approximately $45,000. Finally, Roxbury Financial LLC boosted its holdings in shares of Royal Bank Of Canada by 44.3% during the 2nd quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider's stock worth $45,000 after buying an additional 104 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $146.47 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock's fifty day simple moving average is $140.22 and its two-hundred day simple moving average is $129.05. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $149.26. The stock has a market cap of $205.84 billion, a PE ratio of 15.47, a price-to-earnings-growth ratio of 1.49 and a beta of 0.86.

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 for the quarter, beating the consensus estimate of $2.36 by $0.43. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The business had revenue of $12.26 billion for the quarter, compared to analysts' expectations of $16.03 billion. During the same period last year, the business earned $3.26 EPS. The business's revenue was up 16.1% on a year-over-year basis. As a group, analysts forecast that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Analysts Set New Price Targets

RY has been the topic of a number of research analyst reports. Wall Street Zen upgraded Royal Bank Of Canada from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Scotiabank reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Erste Group Bank upgraded Royal Bank Of Canada from a "hold" rating to a "buy" rating in a report on Monday, September 22nd. Argus increased their target price on Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Finally, Cowen reiterated a "hold" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $177.50.

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.

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