Laurel Wealth Advisors LLC Has $416,000 Holdings in Royal Bank Of Canada $RY

Laurel Wealth Advisors LLC decreased its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 99.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,825 shares of the financial services provider’s stock after selling 368,804 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Royal Bank Of Canada were worth $416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Toth Financial Advisory Corp acquired a new position in shares of Royal Bank Of Canada during the 3rd quarter worth approximately $29,000. True Wealth Design LLC bought a new position in Royal Bank Of Canada during the third quarter worth $31,000. Atlantic Union Bankshares Corp bought a new position in Royal Bank Of Canada during the third quarter worth $38,000. CoreCap Advisors LLC increased its holdings in shares of Royal Bank Of Canada by 103.8% in the third quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 138 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC bought a new position in shares of Royal Bank Of Canada in the second quarter valued at about $51,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Price Performance

Royal Bank Of Canada stock opened at $168.65 on Tuesday. The firm has a market cap of $235.72 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.23 and a beta of 0.79. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.83 and a quick ratio of 0.83. The stock’s fifty day moving average price is $170.01 and its two-hundred day moving average price is $156.30. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $176.19.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.13. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The firm had revenue of $13.18 billion during the quarter, compared to the consensus estimate of $12.60 billion. During the same period in the prior year, the company posted $3.62 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. As a group, research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be paid a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio is presently 45.74%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, January 9th. National Bank Financial restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, December 4th. Jefferies Financial Group downgraded Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Thursday, January 22nd. Finally, TD Cowen upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

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.