Capital Investment Counsel Inc Boosts Stake in Royal Bank Of Canada $RY

Capital Investment Counsel Inc raised its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,515 shares of the financial services provider’s stock after purchasing an additional 369 shares during the quarter. Capital Investment Counsel Inc’s holdings in Royal Bank Of Canada were worth $1,383,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its holdings in Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after buying an additional 575 shares during the period. Cerity Partners LLC increased its position in shares of Royal Bank Of Canada by 12.2% in the first quarter. Cerity Partners LLC now owns 43,793 shares of the financial services provider’s stock worth $4,936,000 after acquiring an additional 4,757 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Royal Bank Of Canada by 13.0% in the 1st quarter. SBI Securities Co. Ltd. now owns 729 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 84 shares during the period. Cullen Frost Bankers Inc. lifted its holdings in shares of Royal Bank Of Canada by 295.4% during 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. Finally, Kingsview Wealth Management LLC boosted its position in Royal Bank Of Canada by 3.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 3,812 shares of the financial services provider’s stock worth $430,000 after purchasing an additional 127 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. BMO Capital Markets reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Zacks Research cut shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $177.50.

Royal Bank Of Canada Stock Performance

Royal Bank Of Canada stock opened at $148.94 on Thursday. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $149.44. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a market cap of $209.05 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86. The stock has a 50 day moving average of $146.30 and a 200-day moving average of $135.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $12.26 billion for the quarter, compared to analysts’ expectations of $16.03 billion. During the same period in the prior year, the company posted $3.26 earnings per share. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. On average, analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

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.