Triasima Portfolio Management inc. Buys 10,694 Shares of Royal Bank Of Canada $RY

Key Points

• Triasima Portfolio Management increased its Royal Bank of Canada stake by 4.2%, buying 10,694 shares to reach 265,763 shares valued at approximately $52.4 million. RBC now represents 6.7% of Triasima’s portfolio and its largest holding.
• Analysts maintain a generally positive outlook, with RBC receiving a consensus “Moderate Buy” rating and a $225 price target. The bank also exceeded quarterly earnings expectations, reporting EPS of $3.07 versus the $2.89 consensus.
• RBC declared a quarterly dividend of C$1.76 per share, equivalent to C$7.04 annually and a 3.6% yield; institutional investors collectively own 45.31% of the company.

Triasima Portfolio Management inc. raised its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 4.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 265,763 shares of the financial services provider's stock after purchasing an additional 10,694 shares during the quarter. Royal Bank Of Canada comprises 6.7% of Triasima Portfolio Management inc.'s holdings, making the stock its biggest position. Triasima Portfolio Management inc.'s holdings in Royal Bank Of Canada were worth $52,402,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Roxbury Financial LLC increased its position in shares of Royal Bank Of Canada by 12.8% in the 3rd quarter. Roxbury Financial LLC now owns 501 shares of the financial services provider's stock valued at $98,000 after acquiring an additional 57 shares during the period. Echo45 Advisors LLC raised its stake in Royal Bank Of Canada by 5.0% in the 1st quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider's stock worth $204,000 after acquiring an additional 60 shares during the last quarter. Key Financial Inc raised its stake in Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider's stock worth $26,000 after acquiring an additional 63 shares during the last quarter. Apella Capital LLC raised its stake in Royal Bank Of Canada by 3.1% in the 2nd quarter. Apella Capital LLC now owns 2,155 shares of the financial services provider's stock worth $451,000 after acquiring an additional 64 shares during the last quarter. Finally, Cornerstone Financial Management LLC lifted its position in Royal Bank Of Canada by 45.2% during the 2nd quarter. Cornerstone Financial Management LLC now owns 212 shares of the financial services provider's stock worth $44,000 after acquiring an additional 66 shares during the period. Hedge funds and other institutional investors own 45.31% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on RY shares. TD Securities reiterated a "buy" rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Keefe, Bruyette & Woods initiated coverage on Royal Bank Of Canada in a report on Friday, August 21st. They issued a "market perform" rating on the stock. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Royal Bank Of Canada has an average rating of "Moderate Buy" and a consensus price target of $225.00.

Royal Bank Of Canada Stock Up 1.5%

NYSE:RY opened at $196.65 on Friday. The firm has a market capitalization of $272.16 billion, a P/E ratio of 16.69, a PEG ratio of 1.74 and a beta of 0.80. Royal Bank Of Canada has a 1-year low of $143.38 and a 1-year high of $218.57. The company's fifty day moving average price is $203.81 and its 200-day moving average price is $196.36. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.18. The firm had revenue of $13.22 billion during the quarter, compared to analysts' expectations of $12.98 billion. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. As a group, equities research analysts anticipate that Royal Bank Of Canada will post 11.83 EPS for the current year.

Royal Bank Of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be given a dividend of C$1.76 per share. This represents a $7.04 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, October 26th. Royal Bank Of Canada's dividend payout ratio (DPR) is currently 43.39%.

About Royal Bank Of Canada

Royal Bank of Canada NYSE: RY is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and serves individuals, businesses, institutional clients and governments.

RBC provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and financial advice. Its wealth management operations offer investment management, brokerage, trust, private banking and financial planning services to individuals, families and institutions.

Through RBC Capital Markets, the company provides investment banking, corporate banking, securities, sales and trading, and financial advisory services.

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