US Bancorp DE Has $8.19 Million Holdings in Royal Bank Of Canada (NYSE:RY)

Key Points

• US Bancorp DE has reduced its stake in Royal Bank of Canada by 16.8%, selling 14,684 shares and now holding 72,628 shares valued at approximately $8.19 million.
• Royal Bank of Canada recently announced an increase in its quarterly dividend to $1.1152 per share, up from $1.03, reflecting a 3.4% dividend yield.
• Despite missing earnings estimates last quarter, Royal Bank of Canada reported a 10.7% year-over-year revenue increase and has a consensus rating of "Moderate Buy" from analysts.

US Bancorp DE reduced its holdings in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 16.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,628 shares of the financial services provider's stock after selling 14,684 shares during the quarter. US Bancorp DE's holdings in Royal Bank Of Canada were worth $8,187,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in RY. Cordatus Wealth Management LLC boosted its position in shares of Royal Bank Of Canada by 5.5% in the first quarter. Cordatus Wealth Management LLC now owns 5,053 shares of the financial services provider's stock worth $570,000 after acquiring an additional 262 shares during the last quarter. Arkadios Wealth Advisors raised its holdings in Royal Bank Of Canada by 97.3% in the first quarter. Arkadios Wealth Advisors now owns 16,332 shares of the financial services provider's stock valued at $1,841,000 after buying an additional 8,056 shares during the period. Eastern Bank raised its holdings in Royal Bank Of Canada by 74.8% in the first quarter. Eastern Bank now owns 832 shares of the financial services provider's stock valued at $94,000 after buying an additional 356 shares during the period. Brucke Financial Inc. raised its holdings in Royal Bank Of Canada by 8.2% in the first quarter. Brucke Financial Inc. now owns 4,185 shares of the financial services provider's stock valued at $502,000 after buying an additional 317 shares during the period. Finally, XTX Topco Ltd raised its holdings in Royal Bank Of Canada by 203.2% in the first quarter. XTX Topco Ltd now owns 42,562 shares of the financial services provider's stock valued at $4,798,000 after buying an additional 28,524 shares during the period. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Performance

Shares of RY traded up $0.79 during midday trading on Tuesday, hitting $130.71. 661,899 shares of the stock traded hands, compared to its average volume of 1,289,885. Royal Bank Of Canada has a 1-year low of $105.31 and a 1-year high of $134.26. The firm has a market capitalization of $183.75 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 1.49 and a beta of 0.89. 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 $129.84 and its two-hundred day moving average price is $122.04.

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 for the quarter, compared to analyst estimates of $15.77 billion. During the same period last year, the firm posted $2.92 EPS. The business's revenue was up 10.7% compared to the same quarter last year. Equities research analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th will be paid a $1.1152 dividend. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a dividend yield of 3.4%. This is an increase from Royal Bank Of Canada's previous quarterly dividend of $1.03. Royal Bank Of Canada's dividend payout ratio (DPR) is currently 50.33%.

Wall Street Analyst Weigh In

RY has been the topic of a number of analyst reports. Scotiabank initiated coverage on shares of Royal Bank Of Canada in a research note on Thursday, May 15th. They set a "sector outperform" rating on the stock. CIBC restated an "outperform" rating on shares of Royal Bank Of Canada in a research note on Tuesday, May 20th. National Bank Financial lowered shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Barclays restated an "overweight" rating on shares of Royal Bank Of Canada in a research note on Monday, June 9th. Finally, Wall Street Zen lowered shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $193.00.

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.