Roman Butler Fullerton & Co. Takes $677,000 Position in Royal Bank Of Canada $RY

Roman Butler Fullerton & Co. bought a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 3,216 shares of the financial services provider’s stock, valued at approximately $677,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd acquired a new stake in Royal Bank Of Canada during the fourth quarter valued at $25,000. Key Financial Inc boosted its stake in shares of Royal Bank Of Canada by 63.0% during the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 63 shares in the last quarter. Maseco LLP grew its position in shares of Royal Bank Of Canada by 355.0% during the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 142 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada during the 3rd quarter valued at about $27,000. Finally, Cornerstone Planning Group LLC increased its stake in shares of Royal Bank Of Canada by 55.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 88 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Trading Up 0.1%

Shares of Royal Bank Of Canada stock opened at $216.67 on Monday. The firm has a market capitalization of $300.44 billion, a PE ratio of 19.47, a P/E/G ratio of 1.71 and a beta of 0.80. Royal Bank Of Canada has a twelve month low of $135.92 and a twelve month high of $218.57. The firm’s 50-day moving average price is $207.42 and its 200 day moving average price is $185.32. 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 posted 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. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. During the same period in the previous year, the business earned $3.12 EPS. Royal Bank Of Canada’s quarterly revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts predict that Royal Bank Of Canada will post 11.47 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be paid a $1.76 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is presently 44.56%.

Analyst Ratings Changes

RY has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday. Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Argus set a $225.00 target price on Royal Bank Of Canada in a research note on Thursday, June 11th. Finally, Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Royal Bank Of Canada has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Profile

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.