Old North State Trust LLC Has $1.03 Million Stock Position in Royal Bank of Canada (NYSE:RY)

Old North State Trust LLC lifted its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.0% in the fourth quarter, HoldingsChannel reports. The fund owned 8,554 shares of the financial services provider’s stock after buying an additional 486 shares during the period. Old North State Trust LLC’s holdings in Royal Bank of Canada were worth $1,031,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in RY. Park Square Financial Group LLC bought a new stake in Royal Bank of Canada during the 4th quarter worth about $25,000. WealthTrak Capital Management LLC acquired a new stake in shares of Royal Bank of Canada during the 4th quarter worth approximately $28,000. Roxbury Financial LLC bought a new stake in shares of Royal Bank of Canada during the fourth quarter worth approximately $29,000. Optiver Holding B.V. bought a new stake in shares of Royal Bank of Canada during the fourth quarter worth approximately $35,000. Finally, Crews Bank & Trust acquired a new position in Royal Bank of Canada in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RY. CIBC restated an “outperform” rating on shares of Royal Bank of Canada in a research report on Tuesday, May 20th. Scotiabank started coverage on Royal Bank of Canada in a research note on Thursday, May 15th. They issued a “sector outperform” rating on the stock. Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Finally, Wall Street Zen raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Up 0.1%

NYSE RY opened at $128.54 on Wednesday. Royal Bank of Canada has a one year low of $102.44 and a one year high of $130.11. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $181.81 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.80 and a beta of 0.89. The stock’s 50-day moving average is $118.11 and its 200-day moving average is $119.56.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Thursday, April 24th were issued a dividend of $1.0251 per share. The ex-dividend date of this dividend was Thursday, April 24th. This represents a $4.10 annualized dividend and a yield of 3.19%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 46.18%.

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.