23,525 Shares in Royal Bank Of Canada $RY Acquired by Davis Investment Partners LLC

Davis Investment Partners LLC acquired a new stake in shares of Royal Bank Of Canada (NYSE:RY – Free Report) (TSE:RY) during the first quarter, Holdings Channel.com reports. The fund acquired 23,525 shares of the financial services provider’s stock, valued at approximately $3,806,000. Royal Bank Of Canada accounts for approximately 1.3% of Davis Investment Partners LLC’s portfolio, making the stock its 12th largest holding.

Other large investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new stake in Royal Bank Of Canada in the 4th quarter worth approximately $25,000. Tradewinds Capital Management LLC purchased a new position in shares of Royal Bank Of Canada during the 4th quarter valued at $26,000. Johnson Financial Group Inc. purchased a new position in shares of Royal Bank Of Canada during the 3rd quarter valued at $27,000. Highline Wealth Partners LLC increased its stake in shares of Royal Bank Of Canada by 75.4% in the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 89 shares during the last quarter. Finally, Cornerstone Planning Group LLC increased its stake in shares of Royal Bank Of Canada by 55.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 88 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

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Royal Bank Of Canada Trading Down 0.3%

Shares of NYSE:RY opened at $202.31 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.70 and a current ratio of 0.82. The stock’s 50-day moving average is $187.51 and its 200-day moving average is $174.54. The company has a market cap of $281.16 billion, a P/E ratio of 18.18, a P/E/G ratio of 1.61 and a beta of 0.81. Royal Bank Of Canada has a 52-week low of $127.38 and a 52-week high of $203.55.

Royal Bank Of Canada (NYSE:RY – Get Free Report) (TSE:RY) last issued its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.12 earnings per share. Equities research analysts predict that Royal Bank Of Canada will post 11.45 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a $1.76 dividend. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a yield of 3.5%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio (DPR) is 42.41%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Finally, Argus set a $225.00 price target on Royal Bank Of Canada in a research note on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $225.00.

View Our Latest Research Report on RY

Royal Bank Of Canada Company Profile

(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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