Noesis Capital Mangement Corp Makes New Investment in Royal Bank Of Canada $RY

Noesis Capital Mangement Corp acquired a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,535 shares of the financial services provider’s stock, valued at approximately $498,000.

Several other institutional investors have also recently bought and sold shares of the business. Bank of Nova Scotia bought a new position in shares of Royal Bank Of Canada in the second quarter valued at $2,549,157,000. The Manufacturers Life Insurance Company bought a new stake in shares of Royal Bank Of Canada during the second quarter worth about $2,296,717,000. Canada Pension Plan Investment Board bought a new stake in shares of Royal Bank Of Canada during the second quarter worth about $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Royal Bank Of Canada during the second quarter worth about $2,260,820,000. Finally, Legal & General Group Plc acquired a new stake in shares of Royal Bank Of Canada in the 2nd quarter worth about $1,645,758,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Up 0.8%

RY opened at $202.77 on Tuesday. Royal Bank Of Canada has a fifty-two week low of $143.38 and a fifty-two week high of $218.57. The firm has a market capitalization of $280.62 billion, a P/E ratio of 17.74, a PEG ratio of 1.80 and a beta of 0.80. The company’s 50-day moving average is $202.35 and its 200 day moving average is $188.27. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.18. The business had revenue of $13.22 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. Research analysts expect that Royal Bank Of Canada will post 11.83 earnings per share for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be given a C$1.76 dividend. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 annualized dividend and a dividend yield of 3.5%. Royal Bank Of Canada’s payout ratio is 43.39%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. Finally, Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and provides banking, wealth management, capital markets, insurance and investor services to individuals, businesses, institutions and governments.

RBC’s personal and commercial banking operations offer deposit accounts, lending, mortgages, credit cards, payment services and financial advice. Its wealth management business provides investment management, private banking, trust, brokerage and advisory services, while RBC Capital Markets delivers investment banking, sales and trading, research and corporate finance services.