Yousif Capital Management LLC Has $1.56 Million Holdings in Royal Bank of Canada (NYSE:RY)

Yousif Capital Management LLC lessened its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 24.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,836 shares of the financial services provider’s stock after selling 4,570 shares during the period. Yousif Capital Management LLC’s holdings in Royal Bank of Canada were worth $1,560,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Muirfield Wealth Advisors LLC grew its holdings in Royal Bank of Canada by 0.7% during the 1st quarter. Muirfield Wealth Advisors LLC now owns 16,802 shares of the financial services provider’s stock worth $1,894,000 after acquiring an additional 122 shares during the period. Farther Finance Advisors LLC raised its position in shares of Royal Bank of Canada by 10.2% in the 1st quarter. Farther Finance Advisors LLC now owns 8,956 shares of the financial services provider’s stock worth $1,018,000 after acquiring an additional 831 shares in the last quarter. KMG Fiduciary Partners LLC raised its position in shares of Royal Bank of Canada by 10.8% in the 1st quarter. KMG Fiduciary Partners LLC now owns 19,467 shares of the financial services provider’s stock worth $2,194,000 after acquiring an additional 1,891 shares in the last quarter. Sivia Capital Partners LLC raised its position in shares of Royal Bank of Canada by 2.8% in the 1st quarter. Sivia Capital Partners LLC now owns 3,350 shares of the financial services provider’s stock worth $378,000 after acquiring an additional 91 shares in the last quarter. Finally, Verum Partners LLC raised its position in shares of Royal Bank of Canada by 0.8% in the 1st quarter. Verum Partners LLC now owns 19,674 shares of the financial services provider’s stock worth $2,218,000 after acquiring an additional 149 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on RY. Wall Street Zen lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. National Bank Financial lowered Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 30th. Scotiabank began coverage on Royal Bank of Canada in a research report on Thursday, May 15th. They issued a “sector outperform” rating for the company. Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Finally, CIBC reaffirmed an “outperform” rating on shares of Royal Bank of Canada in a research report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $193.00.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at $128.89 on Tuesday. Royal Bank of Canada has a one year low of $102.52 and a one year high of $130.00. The firm has a market capitalization of $181.81 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.80 and a beta of 0.89. The business has a 50-day simple moving average of $122.20 and a 200 day simple moving average of $119.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.05). Royal Bank of Canada had a net margin of 12.08% and a return on equity of 15.26%. The firm had revenue of $11.38 billion during the quarter, compared to the consensus estimate of $15.77 billion. During the same period in the previous year, the firm earned $2.92 earnings per share. The business’s quarterly revenue was up 10.7% on a year-over-year basis. 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 business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be paid a dividend of $1.1152 per share. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a yield of 3.46%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s payout ratio is 49.78%.

Royal Bank of Canada Profile

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.