AMG National Trust Bank Raises Stock Position in Royal Bank Of Canada $RY

AMG National Trust Bank increased its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 20.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,723 shares of the financial services provider’s stock after acquiring an additional 3,348 shares during the quarter. AMG National Trust Bank’s holdings in Royal Bank Of Canada were worth $3,191,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Royal Bank Of Canada by 33.1% in the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after purchasing an additional 575 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Royal Bank Of Canada by 60.9% during the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock valued at $1,321,000 after buying an additional 4,460 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Royal Bank Of Canada by 57.7% during the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after buying an additional 1,934 shares during the last quarter. Baird Financial Group Inc. increased its position in shares of Royal Bank Of Canada by 39.1% in the 2nd quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock valued at $1,783,000 after acquiring an additional 3,811 shares during the period. Finally, Cerity Partners LLC increased its position in shares of Royal Bank Of Canada by 9.0% in the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock valued at $6,279,000 after acquiring an additional 3,928 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Weiss Ratings downgraded Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a report on Monday, June 29th. Finally, Raymond James Financial lowered Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Stock Up 1.6%

Shares of RY stock opened at $214.00 on Wednesday. Royal Bank Of Canada has a twelve month low of $127.38 and a twelve month high of $214.48. The stock has a market cap of $297.40 billion, a P/E ratio of 19.23, a P/E/G ratio of 1.67 and a beta of 0.80. The stock has a 50 day moving average of $196.03 and a 200 day moving average of $178.55. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. The business had revenue of $12.84 billion for 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 business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.12 EPS. As a group, sell-side analysts expect that Royal Bank Of Canada will post 11.45 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a $1.76 dividend. The ex-dividend date is Monday, July 27th. This represents a $7.04 annualized dividend and a dividend yield of 3.3%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 42.41%.

About Royal Bank Of Canada

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.