Royal Bank of Canada (NYSE:RY) Shares Purchased by Wetherby Asset Management Inc.

Wetherby Asset Management Inc. lifted its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 9.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,662 shares of the financial services provider’s stock after purchasing an additional 2,409 shares during the period. Wetherby Asset Management Inc.’s holdings in Royal Bank of Canada were worth $2,117,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Resources Investment Advisors Inc. purchased a new position in Royal Bank of Canada during the 1st quarter valued at about $30,000. Meridian Wealth Management LLC purchased a new position in Royal Bank of Canada during the 1st quarter valued at about $30,000. CWM LLC increased its holdings in Royal Bank of Canada by 86.8% during the 1st quarter. CWM LLC now owns 409 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 190 shares in the last quarter. WP Advisors LLC purchased a new position in Royal Bank of Canada during the 1st quarter valued at about $38,000. Finally, Cornerstone Advisors Inc. increased its holdings in Royal Bank of Canada by 95.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 570 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 279 shares in the last quarter. Hedge funds and other institutional investors own 41.54% of the company’s stock.

RY has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Royal Bank of Canada from a “sell” rating to a “buy” rating and set a $89.00 target price for the company in a report on Thursday. BMO Capital Markets reiterated a “hold” rating on shares of Royal Bank of Canada in a report on Thursday, May 23rd. Desjardins reiterated a “buy” rating and set a $111.00 price target on shares of Royal Bank of Canada in a report on Thursday, May 16th. Finally, Barclays reiterated a “sell” rating on shares of Royal Bank of Canada in a report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. Royal Bank of Canada presently has a consensus rating of “Buy” and a consensus target price of $100.00.

Shares of Royal Bank of Canada stock traded down $1.33 during trading on Monday, hitting $75.98. 77,234 shares of the stock were exchanged, compared to its average volume of 735,112. The company has a fifty day moving average of $79.50. The stock has a market cap of $109.38 billion, a PE ratio of 11.64, a PEG ratio of 2.01 and a beta of 1.09. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12. Royal Bank of Canada has a 12 month low of $65.76 and a 12 month high of $81.56.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, May 23rd. The financial services provider reported $1.67 EPS for the quarter, topping the consensus estimate of $1.63 by $0.04. The business had revenue of $8.63 billion during the quarter, compared to analyst estimates of $7.60 billion. Royal Bank of Canada had a net margin of 20.04% and a return on equity of 17.36%. During the same quarter in the prior year, the firm earned $2.06 earnings per share. Sell-side analysts expect that Royal Bank of Canada will post 6.73 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be issued a $0.7596 dividend. This represents a $3.04 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend is Wednesday, July 24th. Royal Bank of Canada’s payout ratio is currently 47.78%.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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