Benchmark Financial Wealth Advisors LLC Purchases New Stake in Royal Bank Of Canada $RY

Benchmark Financial Wealth Advisors LLC acquired a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 3,223 shares of the financial services provider’s stock, valued at approximately $424,000.

Several other large investors have also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Royal Bank Of Canada during the 1st quarter worth $32,000. Roxbury Financial LLC increased its holdings in shares of Royal Bank Of Canada by 44.3% in the 2nd quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 104 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of 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 purchasing an additional 257 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Royal Bank Of Canada in the first quarter valued at about $45,000. Finally, Financial Management Professionals Inc. boosted its holdings in Royal Bank Of Canada by 29.2% during the second quarter. Financial Management Professionals Inc. now owns 434 shares of the financial services provider’s stock worth $57,000 after buying an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on RY. Cibc World Mkts lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. Zacks Research lowered Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. National Bankshares restated a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Wall Street Zen raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $177.50.

Royal Bank Of Canada Stock Up 0.4%

RY opened at $146.45 on Monday. The firm has a market cap of $205.56 billion, a P/E ratio of 15.46, a PEG ratio of 1.48 and a beta of 0.86. The business’s fifty day simple moving average is $145.76 and its 200 day simple moving average is $134.27. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $149.44. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11.

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

About Royal Bank Of Canada

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.