AMG National Trust Bank Increases Holdings in Royal Bank Of Canada $RY

AMG National Trust Bank increased its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 20.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,723 shares of the financial services provider’s stock after acquiring an additional 3,348 shares during the period. AMG National Trust Bank’s holdings in Royal Bank Of Canada were worth $3,191,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Royal Bank Of Canada during the fourth quarter valued at $3,472,382,000. Alberta Investment Management Corp purchased a new position in shares of Royal Bank Of Canada during the 4th quarter worth about $324,237,000. Vanguard Group Inc. boosted its stake in shares of Royal Bank Of Canada by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock worth $11,529,165,000 after purchasing an additional 1,290,142 shares during the period. Geode Capital Management LLC grew its holdings in Royal Bank Of Canada by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock valued at $2,389,773,000 after purchasing an additional 882,253 shares during the last quarter. Finally, BCV Asset Management Inc. bought a new position in Royal Bank Of Canada during the 4th quarter valued at about $136,790,000. 45.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

RY has been the subject of several analyst reports. Weiss Ratings downgraded shares of Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, June 29th. Raymond James Financial lowered Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Argus set a $225.00 price objective on Royal Bank Of Canada in a report on Thursday, June 11th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Finally, TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank Of Canada has an average rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Trading Up 1.6%

Shares of NYSE RY opened at $214.00 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $196.03 and a two-hundred day simple moving average of $178.55. The firm has a market cap of $297.40 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 1.67 and a beta of 0.80. Royal Bank Of Canada has a twelve month low of $127.38 and a twelve month high of $214.48.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The firm had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. During the same period in the previous year, the company posted $3.12 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. Analysts expect that Royal Bank Of Canada will post 11.45 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a $1.76 dividend. This represents a $7.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, July 27th. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio is currently 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.