R Squared Ltd Takes Position in Royal Bank Of Canada $RY

Key Points

• R Squared Ltd has purchased a new position in the Royal Bank of Canada, acquiring 4,540 shares valued at approximately $597,000 during the second quarter.
• The Royal Bank of Canada reported earnings of $2.79 per share, exceeding estimates, and generated revenues of $12.26 billion, although lower than analyst expectations.
• Analysts have upgraded the stock's rating, with Argus increasing its price target from $140.00 to $162.00, reflecting positive market sentiment towards the bank's future performance.

R Squared Ltd bought a new position in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 4,540 shares of the financial services provider's stock, valued at approximately $597,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. increased its holdings in 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 acquiring an additional 250 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Royal Bank Of Canada in the first quarter valued at about $32,000. Roxbury Financial LLC grew its position in shares of Royal Bank Of Canada by 44.3% in the second quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 104 shares during the period. Cullen Frost Bankers Inc. increased its stake 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 worth $39,000 after purchasing an additional 257 shares in the last quarter. Finally, Wayfinding Financial LLC acquired a new position in shares of Royal Bank Of Canada during the 1st quarter worth about $45,000. Institutional investors and hedge funds own 45.31% of the company's stock.

Royal Bank Of Canada Trading Up 0.5%

RY opened at $147.49 on Friday. The stock has a market capitalization of $207.27 billion, a PE ratio of 15.57, a P/E/G ratio of 1.47 and a beta of 0.86. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $149.26. 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 business's 50 day moving average price is $144.48 and its 200 day moving average price is $132.38.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its earnings results 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 16.12% and a net margin of 14.03%.The company had revenue of $12.26 billion during the quarter, compared to analysts' expectations of $16.03 billion. During the same quarter last year, the firm earned $3.26 earnings per share. The firm's quarterly revenue was up 16.1% compared to the same quarter last year. As a group, equities research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RY shares. Argus boosted their price objective on Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a "buy" rating in a research note on Friday, August 29th. Zacks Research raised Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a research note on Monday. Erste Group Bank raised shares of Royal Bank Of Canada from a "hold" rating to a "buy" rating in a research note on Monday, September 22nd. Weiss Ratings restated a "buy (b)" rating on shares of Royal Bank Of Canada in a research report on Wednesday, October 8th. Finally, Cowen reissued a "hold" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $177.50.

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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