Royal Bank of Canada (NYSE:RY) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 480,825 shares of the financial services provider’s stock after buying an additional 15,041 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Royal Bank of Canada were worth $48,863,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise purchased a new position in Royal Bank of Canada during the 3rd quarter worth approximately $26,000. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in Royal Bank of Canada during the 3rd quarter worth approximately $34,000. Money Concepts Capital Corp purchased a new position in Royal Bank of Canada during the 4th quarter worth approximately $38,000. Cullen Frost Bankers Inc. purchased a new position in Royal Bank of Canada during the 3rd quarter worth approximately $44,000. Finally, Householder Group Estate & Retirement Specialist LLC purchased a new position in Royal Bank of Canada during the 3rd quarter worth approximately $66,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 1.6 %

Shares of NYSE:RY opened at $96.38 on Wednesday. The firm has a fifty day moving average of $98.96 and a two-hundred day moving average of $94.09. The firm has a market capitalization of $136.35 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 1.69 and a beta of 0.86. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $103.88. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.05. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. The business had revenue of $9.98 billion during the quarter, compared to analyst estimates of $10.10 billion. On average, equities analysts expect that Royal Bank of Canada will post 8.45 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be paid a $1.0207 dividend. This represents a $4.08 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend is Wednesday, April 24th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s payout ratio is presently 37.66%.

Analyst Ratings Changes

RY has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on shares of Royal Bank of Canada in a research report on Thursday, February 22nd. They set a “hold” rating on the stock. BMO Capital Markets raised shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $140.00 to $150.00 in a research note on Friday, April 5th. Barclays began coverage on shares of Royal Bank of Canada in a research note on Wednesday, March 20th. They set an “equal weight” rating for the company. Finally, StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $137.67.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.