Zurcher Kantonalbank Zurich Cantonalbank Purchases 15,041 Shares of Royal Bank of Canada (NYSE:RY)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 480,825 shares of the financial services provider's stock after acquiring an additional 15,041 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Royal Bank of Canada were worth $48,863,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in RY. Banque Cantonale Vaudoise acquired a new stake in shares of Royal Bank of Canada during the third quarter worth approximately $26,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Royal Bank of Canada in the third quarter valued at approximately $34,000. Money Concepts Capital Corp acquired a new stake in Royal Bank of Canada in the fourth quarter valued at approximately $38,000. Cullen Frost Bankers Inc. acquired a new stake in Royal Bank of Canada in the third quarter valued at approximately $44,000. Finally, Janiczek Wealth Management LLC lifted its stake in Royal Bank of Canada by 36.8% in the fourth quarter. Janiczek Wealth Management LLC now owns 733 shares of the financial services provider's stock valued at $74,000 after acquiring an additional 197 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Performance

RY stock traded up $0.38 on Wednesday, reaching $96.78. 821,002 shares of the company were exchanged, compared to its average volume of 1,191,970. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $103.88. The stock's fifty day moving average price is $98.96 and its 200 day moving average price is $94.11. The firm has a market capitalization of $136.91 billion, a PE ratio of 12.19, a PEG ratio of 1.69 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its earnings results on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.06 by $0.05. The business had revenue of $9.98 billion for the quarter, compared to analyst estimates of $10.10 billion. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. On average, research analysts anticipate that Royal Bank of Canada will post 8.45 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be issued a $1.0207 dividend. This represents a $4.08 annualized dividend and a yield of 4.22%. The ex-dividend date is Wednesday, April 24th. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.02. Royal Bank of Canada's payout ratio is 37.66%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RY. Barclays began coverage on shares of Royal Bank of Canada in a research note on Wednesday, March 20th. They issued an "equal weight" rating for the company. Jefferies Financial Group started coverage on shares of Royal Bank of Canada in a research report on Thursday, February 22nd. They issued a "hold" rating on the stock. BMO Capital Markets raised shares of Royal Bank of Canada from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $140.00 to $150.00 in a research report on Friday, April 5th. Finally, StockNews.com lowered shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of "Hold" and an average target price of $137.67.

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.