3,478 Shares in Royal Bank Of Canada $RY Acquired by BayBridge Capital Group LLC

BayBridge Capital Group LLC acquired a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,478 shares of the financial services provider’s stock, valued at approximately $720,000.

Other large investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company bought a new position in Royal Bank Of Canada in the second quarter valued at about $2,296,717,000. HighTower Advisors LLC lifted its holdings in shares of Royal Bank Of Canada by 18.5% in the fourth quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after acquiring an additional 15,046 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Royal Bank Of Canada by 6.1% in the fourth quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock worth $1,086,601,000 after acquiring an additional 368,534 shares during the last quarter. Rathbones Group PLC boosted its stake in shares of Royal Bank Of Canada by 9.0% in the 4th quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock valued at $55,480,000 after purchasing an additional 26,782 shares in the last quarter. Finally, M. Kulyk & Associates LLC bought a new stake in shares of Royal Bank Of Canada during the 2nd quarter valued at approximately $2,953,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

Shares of RY opened at $208.99 on Wednesday. Royal Bank Of Canada has a 1 year low of $143.13 and a 1 year high of $218.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $289.79 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 1.85 and a beta of 0.79. The business has a 50-day moving average of $209.68 and a 200-day moving average of $189.86.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.18. The firm had revenue of $13.22 billion during the quarter, compared to analyst estimates of $12.98 billion. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. As a group, equities research analysts anticipate that Royal Bank Of Canada will post 12.07 earnings per share for the current year.

Royal Bank Of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be paid a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, October 26th. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 44.44%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Keefe, Bruyette & Woods started coverage on shares of Royal Bank Of Canada in a research note on Friday, August 21st. They set a “market perform” rating on the stock. Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Finally, TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (RBC) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it is one of Canada’s largest banks and serves individuals, businesses, institutions and governments.

RBC provides personal and commercial banking products, including deposit accounts, mortgages, consumer and business loans, credit cards and payment services. Through its wealth management operations, the company offers investment advice, brokerage, asset management, trust and estate services, and private banking.