Stevens Capital Management LP Buys Shares of 2,235 Royal Bank Of Canada (NYSE:RY)

Key Points

• Stevens Capital Management LP has acquired a new investment in Royal Bank of Canada, purchasing 2,235 shares valued at approximately $252,000 during the first quarter of the year.
• Royal Bank of Canada's latest quarterly earnings report indicated a shortfall, with EPS of $2.20, missing projections of $2.25, and revenue of $11.38 billion compared to expected $15.77 billion.
• The bank has announced a quarterly dividend of $1.1152 per share, increasing from its previous dividend, which results in an annualized payout of $4.46 and a yield of 3.38%.

Stevens Capital Management LP bought a new stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,235 shares of the financial services provider's stock, valued at approximately $252,000.

A number of other hedge funds also recently bought and sold shares of the stock. Park Square Financial Group LLC acquired a new position in Royal Bank Of Canada during the fourth quarter worth approximately $25,000. WealthTrak Capital Management LLC purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $28,000. Sunbelt Securities Inc. raised its holdings in Royal Bank Of Canada by 2,272.7% during the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock worth $29,000 after purchasing an additional 250 shares during the last quarter. Optiver Holding B.V. acquired a new position in shares of Royal Bank Of Canada in the fourth quarter worth $35,000. Finally, Transce3nd LLC acquired a new position in Royal Bank Of Canada in the fourth quarter valued at $37,000. Institutional investors and hedge funds own 45.31% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research report on Monday, June 9th. Scotiabank assumed coverage on Royal Bank Of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating for the company. CIBC reissued an "outperform" rating on shares of Royal Bank Of Canada in a report on Tuesday, May 20th. Wall Street Zen lowered Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. Finally, Cibc World Mkts upgraded Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $193.00.

Royal Bank Of Canada Trading Up 0.1%

RY stock traded up $0.09 during trading on Wednesday, hitting $129.79. The company had a trading volume of 160,002 shares, compared to its average volume of 1,251,717. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $129.69 and a 200-day moving average price of $121.75. Royal Bank Of Canada has a 12 month low of $102.89 and a 12 month high of $134.26. The stock has a market cap of $183.07 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 1.49 and a beta of 0.89.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.25 by ($0.05). Royal Bank Of Canada had a net margin of 13.37% and a return on equity of 15.75%. The firm had revenue of $11.38 billion during the quarter, compared to analyst estimates of $15.77 billion. During the same period last year, the firm earned $2.92 EPS. Royal Bank Of Canada's quarterly 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 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be issued a $1.1152 dividend. This is a boost from Royal Bank Of Canada's previous quarterly dividend of $1.03. This represents a $4.46 annualized dividend and a yield of 3.44%. The ex-dividend date is Thursday, July 24th. Royal Bank Of Canada's dividend payout ratio is currently 50.33%.

Royal Bank Of Canada Company 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.