First Citizens Bank & Trust Co. Has $4 Million Stake in Royal Bank Of Canada $RY

First Citizens Bank & Trust Co. raised its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 229.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 24,757 shares of the financial services provider’s stock after acquiring an additional 17,235 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Royal Bank Of Canada were worth $4,005,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RY. Brighton Jones LLC grew its stake in shares of Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after buying an additional 575 shares in the last quarter. AQR Capital Management LLC raised its position in Royal Bank Of Canada by 60.9% during the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after acquiring an additional 4,460 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Royal Bank Of Canada by 57.7% in the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after acquiring an additional 1,934 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of Royal Bank Of Canada by 39.1% in the 2nd quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider’s stock valued at $1,783,000 after acquiring an additional 3,811 shares during the period. Finally, Cerity Partners LLC increased its stake in shares of Royal Bank Of Canada by 9.0% during the 2nd quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider’s stock worth $6,279,000 after purchasing an additional 3,928 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Up 0.3%

Shares of RY opened at $211.53 on Thursday. The firm has a market cap of $293.31 billion, a P/E ratio of 19.01, a price-to-earnings-growth ratio of 1.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. Royal Bank Of Canada has a 52 week low of $127.38 and a 52 week high of $218.57. The firm’s 50-day simple moving average is $199.92 and its 200 day simple moving average is $180.35.

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

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be issued a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Monday, July 27th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s payout ratio is 42.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RY. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Weiss Ratings lowered Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, June 29th. Argus set a $225.00 price objective on Royal Bank Of Canada in a research report on Thursday, June 11th. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Ten investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.