R Squared Ltd Buys New Stake in Royal Bank Of Canada $RY

R Squared Ltd purchased a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, Holdings Channel reports. The fund purchased 4,540 shares of the financial services provider’s stock, valued at approximately $597,000.

Several other hedge funds and other institutional investors have also modified their holdings of RY. Sunbelt Securities Inc. raised its holdings in shares of Royal Bank Of Canada by 2,272.7% in the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock valued at $29,000 after buying an additional 250 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Royal Bank Of Canada during the 1st quarter valued at about $32,000. Cullen Frost Bankers Inc. grew its position in Royal Bank Of Canada by 295.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 257 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Royal Bank Of Canada during the first quarter worth about $45,000. Finally, Roxbury Financial LLC increased its stake in Royal Bank Of Canada by 44.3% during the second quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 104 shares during the period. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Price Performance

Shares of RY opened at $147.49 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $149.26. The stock has a market cap of $207.27 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.47 and a beta of 0.86. The firm has a fifty day moving average price of $144.48 and a 200 day moving average price of $132.38.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.43. The business had revenue of $12.26 billion for the quarter, compared to analysts’ expectations of $16.03 billion. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The business’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.26 earnings per share. As a group, sell-side analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on RY shares. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. National Bankshares reiterated a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Wall Street Zen cut Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. Argus upped their price target on Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Royal Bank Of Canada in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and an average target price of $177.50.

Royal Bank Of Canada 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.