Alliancebernstein L.P. Buys 38,819 Shares of Royal Bank Of Canada $RY

Alliancebernstein L.P. lifted its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,104,668 shares of the financial services provider’s stock after acquiring an additional 38,819 shares during the period. Alliancebernstein L.P. owned 0.08% of Royal Bank Of Canada worth $162,740,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of RY. Johnson Financial Group Inc. acquired a new stake in shares of Royal Bank Of Canada in the 3rd quarter valued at about $27,000. Toth Financial Advisory Corp acquired a new stake in Royal Bank Of Canada in the third quarter valued at approximately $29,000. True Wealth Design LLC acquired a new stake in Royal Bank Of Canada in the third quarter valued at approximately $31,000. Atlantic Union Bankshares Corp bought a new stake in shares of Royal Bank Of Canada during the third quarter valued at approximately $38,000. Finally, CoreCap Advisors LLC increased 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 valued at $40,000 after acquiring an additional 138 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Trading Up 1.6%

Shares of Royal Bank Of Canada stock opened at $163.91 on Tuesday. The company has a market capitalization of $229.10 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 1.22 and a beta of 0.79. The stock has a fifty day simple moving average of $168.58 and a 200 day simple moving average of $158.12. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $176.19. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.13. The business had revenue of $13.18 billion for the quarter, compared to analysts’ expectations of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The business’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the business earned $3.62 EPS. On average, sell-side analysts anticipate that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Thursday, April 23rd will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio is presently 45.74%.

Wall Street Analyst Weigh In

RY has been the topic of a number of recent research reports. Jefferies Financial Group cut Royal Bank Of Canada from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Raymond James Financial restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, February 13th. TD Securities raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. Finally, National Bank Financial reissued an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, December 4th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

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.