Rockland Trust Co. Acquires Shares of 4,800 Royal Bank Of Canada $RY

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

Several other institutional investors and hedge funds have also recently made changes to their positions in RY. Toth Financial Advisory Corp bought a new position in shares of Royal Bank Of Canada during the third quarter valued at approximately $29,000. True Wealth Design LLC acquired a new stake in Royal Bank Of Canada in the 3rd quarter worth approximately $31,000. Atlantic Union Bankshares Corp acquired a new position in shares of Royal Bank Of Canada in the 3rd quarter valued at $38,000. CoreCap Advisors LLC lifted its holdings in shares of Royal Bank Of Canada by 103.8% during the third quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 138 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Royal Bank Of Canada by 86.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock valued at $50,000 after acquiring an additional 180 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Trading Up 0.7%

NYSE RY 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 stock has a market capitalization of $245.12 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 1.23 and a beta of 0.79. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $176.19. 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 (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share 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 for the quarter, compared to analyst estimates of $12.12 billion. During the same quarter last year, the company earned $3.07 EPS. The business’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. National Bankshares reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, December 4th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, January 9th. Wall Street Zen upgraded Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. UBS Group restated a “buy” rating on shares of Royal Bank Of Canada in a report on Tuesday, November 25th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.