First Citizens Bank & Trust Co. Grows Stake in Royal Bank of Canada (NYSE:RY)

First Citizens Bank & Trust Co. lifted its position in Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) by 10.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,305 shares of the financial services provider’s stock after buying an additional 762 shares during the period. First Citizens Bank & Trust Co.’s holdings in Royal Bank of Canada were worth $881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in RY. Blue Bell Private Wealth Management LLC purchased a new position in shares of Royal Bank of Canada in the 4th quarter worth $37,000. Stonehage Fleming Financial Services Holdings Ltd boosted its stake in shares of Royal Bank of Canada by 54.0% in the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 385 shares of the financial services provider’s stock worth $40,000 after buying an additional 135 shares during the last quarter. Allegheny Financial Group LTD bought a new position in Royal Bank of Canada in the 4th quarter worth $48,000. FSB Premier Wealth Management Inc. bought a new position in Royal Bank of Canada in the 4th quarter worth $58,000. Finally, TAP Consulting LLC bought a new position in Royal Bank of Canada in the 4th quarter worth $74,000. Hedge funds and other institutional investors own 41.50% of the company’s stock.

A number of equities analysts recently commented on the company. BMO Capital Markets decreased their target price on Royal Bank of Canada from C$142.00 to C$140.00 in a report on Friday, May 27th. StockNews.com raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Saturday, June 11th. Credit Suisse Group decreased their target price on Royal Bank of Canada from C$153.00 to C$152.00 in a report on Friday, May 27th. CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Monday, April 11th. Finally, Scotiabank decreased their price target on Royal Bank of Canada from C$150.00 to C$147.00 in a report on Friday, May 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $143.84.

Shares of Royal Bank of Canada stock opened at $95.59 on Friday. The firm has a market cap of $134.16 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 2.12 and a beta of 0.90. The business has a 50-day moving average price of $102.42 and a 200-day moving average price of $107.14. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a twelve month low of $94.94 and a twelve month high of $119.41.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Tuesday, July 26th will be given a dividend of $0.995 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.94. The ex-dividend date is Monday, July 25th. This represents a $3.98 dividend on an annualized basis and a dividend yield of 4.16%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 42.01%.

Royal Bank of Canada Company Profile (Get Rating)

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.

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