Havemeyer Place LP Takes Position in Royal Bank Of Canada $RY

Havemeyer Place LP bought a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, HoldingsChannel reports. The fund bought 12,238 shares of the financial services provider’s stock, valued at approximately $2,086,000.

Other large investors have also recently bought and sold shares of the company. Harvest Fund Management Co. Ltd purchased a new stake in Royal Bank Of Canada in the fourth quarter valued at approximately $25,000. Tradewinds Capital Management LLC purchased a new stake in Royal Bank Of Canada in the fourth quarter valued at approximately $26,000. Johnson Financial Group Inc. purchased a new stake in Royal Bank Of Canada in the third quarter valued at approximately $27,000. Highline Wealth Partners LLC boosted its position in Royal Bank Of Canada by 75.4% in the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock valued at $35,000 after buying an additional 89 shares during the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new stake in Royal Bank Of Canada in the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on RY. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Raymond James Financial lowered Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, June 1st. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Finally, Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, February 19th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and an average target price of $162.00.

Royal Bank Of Canada Trading Down 0.4%

Royal Bank Of Canada stock opened at $194.25 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. Royal Bank Of Canada has a 12 month low of $126.02 and a 12 month high of $195.53. The stock’s 50 day simple moving average is $178.35 and its two-hundred day simple moving average is $170.02. The firm has a market cap of $269.95 billion, a PE ratio of 17.45, a P/E/G ratio of 1.53 and a beta of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.83% and a net margin of 15.92%.The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. During the same quarter last year, the firm posted $3.12 EPS. The business’s revenue was up 11.4% on a year-over-year basis. Analysts anticipate that Royal Bank Of Canada will post 11.52 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.6%. Royal Bank Of Canada’s payout ratio is 42.41%.

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.