Royal Bank Of Canada $RY Shares Bought by Truist Financial Corp

Truist Financial Corp lifted its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 10.6% in the third quarter, HoldingsChannel reports. The firm owned 101,173 shares of the financial services provider’s stock after buying an additional 9,677 shares during the quarter. Truist Financial Corp’s holdings in Royal Bank Of Canada were worth $14,905,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Belpointe Asset Management LLC purchased a new stake in shares of Royal Bank Of Canada during the 3rd quarter worth $212,000. Fortis Capital Advisors LLC purchased a new position in Royal Bank Of Canada during the 3rd quarter worth approximately $212,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Royal Bank Of Canada by 11.9% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 52,694 shares of the financial services provider’s stock worth $7,763,000 after acquiring an additional 5,597 shares during the last quarter. Avantax Planning Partners Inc. acquired a new position in Royal Bank Of Canada in the third quarter valued at $207,000. Finally, Lorne Steinberg Wealth Management Inc. increased its position in Royal Bank Of Canada by 4.1% in the 3rd quarter. Lorne Steinberg Wealth Management Inc. now owns 126,917 shares of the financial services provider’s stock valued at $18,701,000 after acquiring an additional 5,013 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $166.22 on Friday. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $174.61. The company’s fifty day moving average price is $165.94 and its two-hundred day moving average price is $150.49. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $232.29 billion, a P/E ratio of 16.57, a P/E/G ratio of 1.20 and a beta of 0.79.

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

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, January 26th. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.9%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s payout ratio is currently 47.66%.

Wall Street Analysts Forecast Growth

RY has been the subject of a number of recent analyst reports. National Bankshares restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, December 4th. Wall Street Zen raised shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a research report on Thursday, January 22nd. Zacks Research raised shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Wednesday, December 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.00.

Royal Bank Of Canada Company 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.