Truist Financial Corp Buys 9,677 Shares of Royal Bank Of Canada $RY

Truist Financial Corp grew its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 10.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,173 shares of the financial services provider’s stock after buying an additional 9,677 shares during the period. Truist Financial Corp’s holdings in Royal Bank Of Canada were worth $14,905,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RY. Vanguard Group Inc. grew its holdings in Royal Bank Of Canada by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 65,008,684 shares of the financial services provider’s stock valued at $8,567,752,000 after buying an additional 2,437,164 shares in the last quarter. TD Asset Management Inc raised its position in shares of Royal Bank Of Canada by 0.9% during the 2nd quarter. TD Asset Management Inc now owns 31,812,382 shares of the financial services provider’s stock valued at $4,184,220,000 after buying an additional 296,978 shares in the last quarter. Norges Bank bought a new stake in shares of Royal Bank Of Canada in the 2nd quarter valued at approximately $2,599,262,000. Geode Capital Management LLC lifted its position in Royal Bank Of Canada by 20.2% in the second quarter. Geode Capital Management LLC now owns 11,374,800 shares of the financial services provider’s stock worth $1,517,123,000 after buying an additional 1,910,492 shares during the last quarter. Finally, Scotia Capital Inc. grew its holdings in Royal Bank Of Canada by 1.6% during the 2nd quarter. Scotia Capital Inc. now owns 9,065,967 shares of the financial services provider’s stock valued at $1,191,770,000 after purchasing an additional 141,761 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wall Street Zen upgraded Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Zacks Research raised Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 9th. Raymond James Financial began coverage on shares of Royal Bank Of Canada in a research note on Monday, November 24th. They set a “moderate buy” rating for the company. TD Cowen raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Finally, Jefferies Financial Group lowered shares of Royal Bank Of Canada from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and an average target price of $162.00.

Royal Bank Of Canada Stock Performance

RY opened at $166.22 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $174.61. The company has a market cap of $232.29 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.20 and a beta of 0.79. The firm’s fifty day simple moving average is $165.94 and its two-hundred day simple moving average is $150.49.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 EPS for the quarter, beating the consensus estimate of $2.51 by $0.25. The firm had revenue of $12.27 billion during the quarter, compared to the consensus estimate of $12.12 billion. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The firm’s revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the company earned $3.07 EPS. Equities 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 company 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 is Monday, January 26th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. This represents a $6.56 annualized dividend and a yield of 3.9%. Royal Bank Of Canada’s dividend payout ratio (DPR) is 47.66%.

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.