Godsey & Gibb Inc. Sells 165 Shares of Royal Bank of Canada (NYSE:RY)

Godsey & Gibb Inc. reduced its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,871 shares of the financial services provider’s stock after selling 165 shares during the period. Royal Bank of Canada accounts for 2.2% of Godsey & Gibb Inc.’s holdings, making the stock its 18th biggest holding. Godsey & Gibb Inc.’s holdings in Royal Bank of Canada were worth $22,529,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Royal Bank of Canada by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 59,183,549 shares of the financial services provider’s stock valued at $7,136,056,000 after purchasing an additional 1,104,975 shares in the last quarter. Norges Bank acquired a new stake in Royal Bank of Canada in the fourth quarter valued at approximately $2,425,519,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Royal Bank of Canada by 9.0% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,112,451 shares of the financial services provider’s stock valued at $1,338,156,000 after acquiring an additional 921,276 shares in the last quarter. Scotia Capital Inc. boosted its stake in Royal Bank of Canada by 1.9% in the fourth quarter. Scotia Capital Inc. now owns 8,891,023 shares of the financial services provider’s stock valued at $1,071,536,000 after acquiring an additional 169,437 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Royal Bank of Canada by 31.2% in the fourth quarter. Geode Capital Management LLC now owns 8,382,278 shares of the financial services provider’s stock valued at $1,027,061,000 after acquiring an additional 1,991,364 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Trading Up 0.4%

NYSE RY opened at $127.48 on Friday. The company has a fifty day simple moving average of $120.16 and a two-hundred day simple moving average of $119.83. The stock has a market cap of $180.31 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.80 and a beta of 0.89. Royal Bank of Canada has a 12-month low of $102.44 and a 12-month high of $129.46. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.05). The company had revenue of $11.38 billion during the quarter, compared to analysts’ expectations of $15.77 billion. Royal Bank of Canada had a return on equity of 15.26% and a net margin of 12.08%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.92 EPS. On average, 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 announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be issued a dividend of $1.1152 per share. This represents a $4.46 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Thursday, July 24th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is 47.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. CIBC restated an “outperform” rating on shares of Royal Bank of Canada in a research note on Tuesday, May 20th. National Bank Financial downgraded shares of Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note on Friday, May 30th. Wall Street Zen downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, May 31st. Cibc World Mkts upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. Finally, Scotiabank assumed coverage on shares of Royal Bank of Canada in a research note on Thursday, May 15th. They issued a “sector outperform” rating for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and a consensus price target of $193.00.

About Royal Bank of Canada

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.