Royal Bank Of Canada $RY Holdings Lifted by Sterling Capital Management LLC

Sterling Capital Management LLC boosted its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 294.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,942 shares of the financial services provider’s stock after acquiring an additional 10,407 shares during the quarter. Sterling Capital Management LLC’s holdings in Royal Bank Of Canada were worth $2,256,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in RY. Vanguard Group Inc. raised its holdings in shares of Royal Bank Of Canada by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock worth $11,529,165,000 after purchasing an additional 1,290,142 shares in the last quarter. FIL Ltd boosted its holdings in Royal Bank Of Canada by 1.1% during the fourth quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider’s stock worth $3,965,133,000 after buying an additional 255,465 shares in the last quarter. Norges Bank acquired a new stake in shares of Royal Bank Of Canada during the 4th quarter valued at $3,472,382,000. Bank of Nova Scotia boosted its stake in shares of Royal Bank Of Canada by 1.6% during the 4th quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider’s stock worth $2,596,904,000 after acquiring an additional 238,589 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Royal Bank Of Canada by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock worth $2,389,773,000 after acquiring an additional 882,253 shares in the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

Shares of NYSE RY opened at $203.00 on Monday. The business’s 50-day moving average price is $188.63 and its two-hundred day moving average price is $175.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. Royal Bank Of Canada has a one year low of $127.38 and a one year high of $204.82. The company has a market capitalization of $282.12 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 1.61 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.03. The company had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $3.12 EPS. Analysts anticipate that Royal Bank Of Canada will post 11.45 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a $1.76 dividend. 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 yield of 3.5%. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s payout ratio is presently 42.41%.

Wall Street Analysts Forecast Growth

RY has been the subject of several analyst reports. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 15th. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Finally, Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock 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 (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.