Iowa State Bank Takes Position in Royal Bank Of Canada $RY

Iowa State Bank bought a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, Holdings Channel reports. The institutional investor bought 1,553 shares of the financial services provider’s stock, valued at approximately $204,000.

Other institutional investors also recently modified their holdings of the company. Sunbelt Securities Inc. lifted its position in shares of Royal Bank Of Canada by 2,272.7% during the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 250 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Royal Bank Of Canada during the 1st quarter valued at $32,000. Roxbury Financial LLC lifted its position in shares of Royal Bank Of Canada by 44.3% during the 2nd quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 104 shares during the period. Cullen Frost Bankers Inc. lifted its position in shares of Royal Bank Of Canada by 295.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 257 shares during the period. Finally, Wayfinding Financial LLC acquired a new position in shares of Royal Bank Of Canada during the 1st quarter valued at $45,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analysts Set New Price Targets

RY has been the topic of a number of research reports. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Cibc World Mkts downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 5th. BMO Capital Markets restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Saturday, September 27th. Finally, Wall Street Zen upgraded shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $177.50.

Royal Bank Of Canada Stock Performance

RY opened at $146.95 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The company’s fifty day moving average price is $140.52 and its two-hundred day moving average price is $129.50. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $149.26. The company has a market cap of $206.52 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.49 and a beta of 0.86.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, beating the consensus estimate of $2.36 by $0.43. The company had revenue of $12.26 billion during the quarter, compared to the consensus estimate of $16.03 billion. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.26 earnings per share. On average, analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

About Royal Bank Of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.