Royal Bank Of Canada $RY Shares Purchased by Rathbones Group PLC

Key Points

• Rathbones Group PLC boosted its stake in Royal Bank of Canada by 9.0% to 325,014 shares, buying 26,782 additional shares worth about $55.48 million in Q4.
• RBC beat expectations with Q earnings of $2.94 per share (vs. $2.81 est.) and revenue of $13.18 billion, and declared a quarterly dividend of $1.64 (annual $6.56) for a 4.0% yield payable May 22 (ex‑dividend/record April 23).
• Market and analyst view: the bank has a $228.4 billion market cap, a P/E of 15.64 and a 52‑week range of $106.10–$176.19, with a consensus "Moderate Buy" rating and an average target of $162.00.

Rathbones Group PLC boosted its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 9.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 325,014 shares of the financial services provider's stock after buying an additional 26,782 shares during the quarter. Rathbones Group PLC's holdings in Royal Bank Of Canada were worth $55,480,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Florida Trust Wealth Management Co grew its stake in shares of Royal Bank Of Canada by 2.8% in the fourth quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider's stock worth $373,000 after acquiring an additional 60 shares in the last quarter. Fiduciary Financial Group LLC raised its stake in shares of Royal Bank Of Canada by 3.4% in the fourth quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider's stock valued at $320,000 after acquiring an additional 61 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Royal Bank Of Canada by 1.6% in the third quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider's stock valued at $713,000 after purchasing an additional 74 shares during the period. Advisory Resource Group boosted its holdings in Royal Bank Of Canada by 0.8% in the third quarter. Advisory Resource Group now owns 9,110 shares of the financial services provider's stock valued at $1,342,000 after purchasing an additional 75 shares during the period. Finally, Ballentine Partners LLC grew its stake in Royal Bank Of Canada by 1.5% during the 3rd quarter. Ballentine Partners LLC now owns 5,153 shares of the financial services provider's stock worth $759,000 after purchasing an additional 75 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Stock Performance

Shares of Royal Bank Of Canada stock opened at $163.43 on Monday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $176.19. The firm's 50 day moving average is $166.45 and its two-hundred day moving average is $159.73. The firm has a market capitalization of $228.42 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.23 and a beta of 0.78.

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

Royal Bank Of Canada Announces Dividend

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

Wall Street Analyst Weigh In

RY has been the topic of a number of analyst reports. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Zacks Research downgraded Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, February 3rd. Scotiabank restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Friday, January 9th. Weiss Ratings reiterated a "buy (b)" rating on shares of Royal Bank Of Canada in a research note on Thursday, January 22nd. Finally, Raymond James Financial reiterated an "outperform" rating on shares of Royal Bank Of Canada in a report on Friday, February 13th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of "Moderate Buy" and an average target price of $162.00.

Royal Bank Of Canada Company 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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