Rathbones Group PLC Purchases 50,352 Shares of Royal Bank Of Canada $RY

Key Points

• Rathbones Group PLC raised its stake in Royal Bank of Canada by 20.3%, purchasing 50,352 shares to hold 298,232 shares worth about $43.97 million at quarter-end.
• RBC beat estimates with quarterly EPS of $2.94 (vs. $2.81 expected) and revenue of $13.18B, and analysts have a consensus "Moderate Buy" rating with a $162 target and projected FY EPS of 9.16.
• The bank announced a quarterly dividend of $1.64 (annualized $6.56), a 4.0% yield, while the stock trades with a market cap of roughly $228.7B and a PE of about 15.7.

Rathbones Group PLC lifted its holdings in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 20.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 298,232 shares of the financial services provider's stock after purchasing an additional 50,352 shares during the period. Rathbones Group PLC's holdings in Royal Bank Of Canada were worth $43,965,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Toth Financial Advisory Corp bought a new stake in Royal Bank Of Canada during the third quarter valued at approximately $29,000. True Wealth Design LLC bought a new position in Royal Bank Of Canada in the third quarter worth approximately $31,000. Atlantic Union Bankshares Corp bought a new position in Royal Bank Of Canada in the third quarter worth approximately $38,000. CoreCap Advisors LLC boosted its stake in shares of Royal Bank Of Canada by 103.8% during the 3rd quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider's stock worth $40,000 after acquiring an additional 138 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Royal Bank Of Canada during the 2nd quarter worth $51,000. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Stock Performance

Shares of NYSE RY opened at $163.63 on Friday. The stock has a market cap of $228.71 billion, a PE ratio of 15.66, a price-to-earnings-growth ratio of 1.23 and a beta of 0.79. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $176.19. The firm has a fifty day moving average price of $169.51 and a 200-day moving average price of $156.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.83 and a quick ratio of 0.83.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last released its earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.13. The company had revenue of $13.18 billion for the quarter, compared to analysts' expectations of $12.60 billion. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. Royal Bank Of Canada's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.62 EPS. Equities analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada's payout ratio is presently 45.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. National Bank Financial restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday, December 4th. TD Cowen upgraded Royal Bank Of Canada from a "hold" rating to a "buy" rating in a research report on Thursday, December 4th. Raymond James Financial reissued an "outperform" rating on shares of Royal Bank Of Canada in a report on Friday, February 13th. TD Securities upgraded Royal Bank Of Canada from a "hold" rating to a "buy" rating in a research report on Thursday, December 4th. Finally, UBS Group reaffirmed a "buy" rating on shares of Royal Bank Of Canada in a research note on Tuesday, November 25th. Eleven analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $162.00.

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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