CenterBook Partners LP Increases Stock Holdings in Royal Bank Of Canada $RY

CenterBook Partners LP grew its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 1,062.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 56,844 shares of the financial services provider’s stock after acquiring an additional 51,953 shares during the quarter. CenterBook Partners LP’s holdings in Royal Bank Of Canada were worth $8,374,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of RY. Toth Financial Advisory Corp acquired a new stake in Royal Bank Of Canada in the 3rd quarter worth approximately $29,000. True Wealth Design LLC purchased a new position in shares of Royal Bank Of Canada in the third quarter worth $31,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Royal Bank Of Canada during the third quarter worth $38,000. CoreCap Advisors LLC increased its position in shares of Royal Bank Of Canada by 103.8% in the 3rd quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 138 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Royal Bank Of Canada by 86.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 180 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $169.28 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $236.60 billion, a PE ratio of 16.88, a P/E/G ratio of 1.20 and a beta of 0.79. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $176.19. The company has a fifty day moving average of $169.37 and a two-hundred day moving average of $153.94.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. The business had revenue of $12.27 billion during the quarter, compared to analysts’ expectations of $12.12 billion. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.07 earnings per share. As a group, research analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Monday, January 26th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 3.9%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.54. The ex-dividend date is Monday, January 26th. Royal Bank Of Canada’s dividend payout ratio (DPR) is 47.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on RY shares. National Bank Financial reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, December 4th. TD Cowen upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. TD Securities raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Jefferies Financial Group cut shares of Royal Bank Of Canada from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Wednesday, December 17th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock 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.