Rockland Trust Co. Invests $707,000 in Royal Bank Of Canada $RY

Rockland Trust Co. bought a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 4,800 shares of the financial services provider’s stock, valued at approximately $707,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 575 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Royal Bank Of Canada by 60.9% during the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider’s stock worth $1,321,000 after purchasing an additional 4,460 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in Royal Bank Of Canada by 57.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider’s stock valued at $695,000 after buying an additional 1,934 shares during the period. Callan Family Office LLC purchased a new position in Royal Bank Of Canada during the second quarter worth approximately $389,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in Royal Bank Of Canada by 33.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 47,097 shares of the financial services provider’s stock valued at $6,196,000 after acquiring an additional 11,865 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Price Performance

RY stock opened at $175.39 on Wednesday. The firm has a 50-day moving average of $168.49 and a two-hundred day moving average of $152.50. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $176.19. The firm has a market capitalization of $245.12 billion, a PE ratio of 17.49, a P/E/G ratio of 1.23 and a beta of 0.79.

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

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be issued a dividend of $1.64 per share. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.54. This represents a $6.56 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, January 26th. Royal Bank Of Canada’s dividend payout ratio is 47.66%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RY shares. Zacks Research lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Monday, November 24th. Raymond James Financial assumed coverage on shares of Royal Bank Of Canada in a research report on Monday, November 24th. They issued a “moderate buy” rating on the stock. UBS Group reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Tuesday, November 25th. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.