Colonial Trust Advisors Purchases New Shares in Royal Bank Of Canada $RY

Colonial Trust Advisors bought a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,000 shares of the financial services provider’s stock, valued at approximately $737,000.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in shares of Royal Bank Of Canada during the 2nd quarter valued at $2,599,262,000. Fisher Asset Management LLC increased its stake in Royal Bank Of Canada by 1,218.0% during the 2nd quarter. Fisher Asset Management LLC now owns 5,723,581 shares of the financial services provider’s stock worth $752,937,000 after purchasing an additional 5,289,330 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in Royal Bank Of Canada in the 2nd quarter valued at $329,983,000. Vanguard Group Inc. lifted its holdings in shares of Royal Bank Of Canada by 3.9% in the second quarter. Vanguard Group Inc. now owns 65,008,684 shares of the financial services provider’s stock valued at $8,567,752,000 after purchasing an additional 2,437,164 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Royal Bank Of Canada by 20.2% in the 2nd quarter. Geode Capital Management LLC now owns 11,374,800 shares of the financial services provider’s stock valued at $1,517,123,000 after buying an additional 1,910,492 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

RY has been the subject of several recent research reports. Jefferies Financial Group cut Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Bank Of Canada in a research report on Thursday, January 22nd. TD Securities upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. UBS Group reiterated a “buy” rating on shares of Royal Bank Of Canada in a research report on Tuesday, November 25th. Finally, Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, January 9th. Eleven investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Royal Bank Of Canada presently has an average rating of “Moderate Buy” and a consensus target price of $162.00.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $173.37 on Thursday. The company has a market cap of $242.32 billion, a price-to-earnings ratio of 17.29, a price-to-earnings-growth ratio of 1.27 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 firm has a 50 day moving average of $170.01 and a 200-day moving average of $155.45. 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 announced its quarterly earnings data on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.25. The firm had revenue of $12.27 billion for the quarter, compared to analyst estimates of $12.12 billion. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.07 earnings per share. On average, equities 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Monday, January 26th were given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend was Monday, January 26th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s payout ratio is 47.66%.

About Royal Bank Of Canada

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.