NBC Securities Inc. decreased its holdings in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 7.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 362,174 shares of the financial services provider's stock after selling 30,497 shares during the quarter. Royal Bank of Canada comprises about 3.7% of NBC Securities Inc.'s investment portfolio, making the stock its biggest position. NBC Securities Inc.'s holdings in Royal Bank of Canada were worth $36,626,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the business. Banque Cantonale Vaudoise purchased a new position in shares of Royal Bank of Canada in the 3rd quarter worth $26,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Royal Bank of Canada in the 3rd quarter worth $34,000. Cullen Frost Bankers Inc. purchased a new position in shares of Royal Bank of Canada in the 3rd quarter worth $44,000. First Horizon Advisors Inc. raised its position in Royal Bank of Canada by 64.7% in the fourth quarter. First Horizon Advisors Inc. now owns 471 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 185 shares during the period. Finally, Addison Advisors LLC raised its position in Royal Bank of Canada by 131.0% in the fourth quarter. Addison Advisors LLC now owns 529 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds own 45.31% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. Barclays assumed coverage on Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an "equal weight" rating on the stock. StockNews.com lowered Royal Bank of Canada from a "hold" rating to a "sell" rating in a research report on Tuesday, February 6th. Jefferies Financial Group assumed coverage on Royal Bank of Canada in a research report on Thursday, February 22nd. They issued a "hold" rating on the stock. Finally, BMO Capital Markets raised Royal Bank of Canada from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $140.00 to $150.00 in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $137.67.
Read Our Latest Research Report on RY
Royal Bank of Canada Stock Up 0.1 %
Shares of NYSE RY traded up $0.12 during midday trading on Friday, reaching $103.21. 540,065 shares of the company's stock were exchanged, compared to its average volume of 1,219,462. Royal Bank of Canada has a 52-week low of $77.90 and a 52-week high of $104.08. The stock has a market capitalization of $146.02 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.78 and a beta of 0.85. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. The business's fifty day moving average price is $99.67 and its two-hundred day moving average price is $96.00.
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. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. The business had revenue of $9.98 billion for the quarter, compared to analyst estimates of $10.10 billion. Analysts forecast that Royal Bank of Canada will post 8.45 EPS for the current year.
Royal Bank of Canada Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be paid a $1.0207 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 3.96%. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.02. The ex-dividend date is Wednesday, April 24th. Royal Bank of Canada's dividend payout ratio (DPR) is 51.39%.
Royal Bank of Canada Profile
(
Free Report)
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.
Further Reading
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