Royal Bank Of Canada $RY Holdings Lifted by Drive Wealth Management LLC

Drive Wealth Management LLC boosted its holdings in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 5.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,939 shares of the financial services provider’s stock after buying an additional 139 shares during the period. Drive Wealth Management LLC’s holdings in Royal Bank Of Canada were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of RY. Sunbelt Securities Inc. increased its holdings in shares of Royal Bank Of Canada by 2,272.7% in the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 250 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Royal Bank Of Canada during the first quarter valued at approximately $32,000. Cullen Frost Bankers Inc. increased its stake in Royal Bank Of Canada by 295.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider’s stock valued at $39,000 after buying an additional 257 shares during the period. Wayfinding Financial LLC purchased a new stake in Royal Bank Of Canada in the 1st quarter worth approximately $45,000. Finally, Roxbury Financial LLC lifted its position in Royal Bank Of Canada by 44.3% in the 2nd quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock worth $45,000 after buying an additional 104 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RY. Cowen restated a “hold” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Erste Group Bank raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Finally, Argus upped their target price on Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Six investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $177.50.

Royal Bank Of Canada Stock Performance

Shares of NYSE RY opened at $146.97 on Tuesday. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $149.26. The company has a market cap of $206.55 billion, a P/E ratio of 15.52, a P/E/G ratio of 1.46 and a beta of 0.86. The business’s 50 day moving average is $143.80 and its two-hundred day moving average is $131.92. The company has a quick ratio of 0.82, a current ratio of 0.82 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, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.43. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The business had revenue of $12.26 billion for the quarter, compared to the consensus estimate of $16.03 billion. During the same quarter last year, the company posted $3.26 earnings per share. Royal Bank Of Canada’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Company 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.