Zurcher Kantonalbank Zurich Cantonalbank Has $61.82 Million Holdings in Royal Bank Of Canada (NYSE:RY)

Key Points

• Zurcher Kantonalbank increased its shareholding in the Royal Bank Of Canada by 5.3%, owning a total of 548,921 shares valued at approximately $61.82 million.
• Royal Bank Of Canada recently declared a quarterly dividend increase to $1.1152 per share, reflecting a 3.38% dividend yield.
• The company reported earnings per share (EPS) of $2.20 for the last quarter, missing analyst estimates and showing a revenue shortfall with $11.38 billion compared to the expected $15.77 billion.

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 548,921 shares of the financial services provider's stock after buying an additional 27,523 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Royal Bank Of Canada were worth $61,824,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Park Square Financial Group LLC purchased a new position in Royal Bank Of Canada during the 4th quarter valued at about $25,000. WealthTrak Capital Management LLC purchased a new stake in shares of Royal Bank Of Canada during the fourth quarter worth $28,000. Sunbelt Securities Inc. boosted its position 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 valued at $29,000 after purchasing an additional 250 shares during the last quarter. Optiver Holding B.V. purchased a new position in Royal Bank Of Canada in the fourth quarter valued at about $35,000. Finally, Transce3nd LLC acquired a new position in Royal Bank Of Canada in the 4th quarter worth about $37,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Price Performance

Shares of RY traded up $0.05 during trading hours on Wednesday, hitting $129.75. The stock had a trading volume of 199,997 shares, compared to its average volume of 1,252,030. Royal Bank Of Canada has a 52 week low of $102.89 and a 52 week high of $134.26. The company's fifty day moving average is $129.69 and its two-hundred day moving average is $121.75. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $183.02 billion, a price-to-earnings ratio of 14.41, a P/E/G 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 data on Thursday, May 29th. The financial services provider reported $2.20 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.05). Royal Bank Of Canada had a return on equity of 15.75% and a net margin of 13.37%. The firm had revenue of $11.38 billion for the quarter, compared to the consensus estimate of $15.77 billion. During the same period in the prior year, the firm posted $2.92 earnings per share. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, July 24th. This is a positive change 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%. Royal Bank Of Canada's dividend payout ratio (DPR) is 50.33%.

Analyst Ratings Changes

RY has been the subject of several recent research reports. CIBC reissued an "outperform" rating on shares of Royal Bank Of Canada in a research report on Tuesday, May 20th. Cibc World Mkts upgraded shares of Royal Bank Of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Wall Street Zen lowered Royal Bank Of Canada from a "hold" rating to a "sell" rating in a report on Saturday, May 31st. National Bank Financial downgraded Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Finally, Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.