First National Bank of Omaha Invests $8.35 Million in Royal Bank Of Canada $RY

First National Bank of Omaha purchased a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 48,671 shares of the financial services provider’s stock, valued at approximately $8,351,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new position in shares of Royal Bank Of Canada in the fourth quarter worth $25,000. Tradewinds Capital Management LLC bought a new position in shares of Royal Bank Of Canada in the fourth quarter worth $26,000. Johnson Financial Group Inc. bought a new position in shares of Royal Bank Of Canada in the third quarter worth $27,000. Highline Wealth Partners LLC grew 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 purchasing an additional 89 shares in the last quarter. Finally, Cornerstone Planning Group LLC grew 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 purchasing an additional 88 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Analysts Set New Price Targets

RY has been the subject of several recent analyst reports. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Argus set a $225.00 target price on Royal Bank Of Canada in a research note on Thursday. 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, Weiss Ratings raised Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday, June 1st. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Trading Up 0.2%

Shares of RY stock opened at $199.58 on Friday. The stock has a 50-day simple moving average of $182.12 and a 200 day simple moving average of $171.76. Royal Bank Of Canada has a fifty-two week low of $126.02 and a fifty-two week high of $201.74. The stock has a market capitalization of $277.37 billion, a P/E ratio of 17.93, a P/E/G ratio of 1.57 and a beta of 0.81. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share 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 business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same quarter last year, the business posted $3.12 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts expect that Royal Bank Of Canada will post 11.52 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently announced 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. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 42.41%.

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.