Westerkirk Capital Inc. Lowers Holdings in Royal Bank Of Canada $RY

Westerkirk Capital Inc. lowered its stake in shares of Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) by 93.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,858 shares of the financial services provider’s stock after selling 55,500 shares during the period. Westerkirk Capital Inc.’s holdings in Royal Bank Of Canada were worth $658,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of RY. Harvest Fund Management Co. Ltd purchased a new stake in Royal Bank Of Canada during the fourth quarter worth $25,000. Tradewinds Capital Management LLC purchased a new stake in Royal Bank Of Canada during the fourth quarter worth $26,000. Johnson Financial Group Inc. purchased a new stake in Royal Bank Of Canada during the third quarter worth $27,000. Highline Wealth Partners LLC lifted its holdings in Royal Bank Of Canada by 75.4% during the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after buying an additional 89 shares during the period. Finally, Cornerstone Planning Group LLC lifted its holdings in Royal Bank Of Canada by 55.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock worth $41,000 after buying an additional 88 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

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Royal Bank Of Canada Stock Performance

Shares of RY opened at $197.90 on Wednesday. Royal Bank Of Canada has a 12 month low of $126.02 and a 12 month high of $198.57. The stock has a fifty day moving average price of $179.85 and a 200-day moving average price of $170.86. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The firm has a market cap of $275.03 billion, a PE ratio of 17.78, a P/E/G ratio of 1.54 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last issued its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.The firm had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. During the same quarter in the prior year, the business posted $3.12 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. Equities research analysts predict that Royal Bank Of Canada will post 11.52 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be issued a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a dividend yield of 3.6%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 42.41%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, June 1st. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Finally, Raymond James Financial lowered Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Read Our Latest Research Report on RY

About Royal Bank Of Canada

(Free Report)

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.

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