Pembroke Management LTD Grows Position in Royal Bank Of Canada $RY

Pembroke Management LTD grew its stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 41.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,266 shares of the financial services provider’s stock after buying an additional 3,855 shares during the quarter. Pembroke Management LTD’s holdings in Royal Bank Of Canada were worth $1,954,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Toth Financial Advisory Corp purchased a new position in Royal Bank Of Canada during the third quarter valued at $29,000. True Wealth Design LLC bought a new position in shares of Royal Bank Of Canada during the 3rd quarter valued at about $31,000. CoreCap Advisors LLC grew its position 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 purchasing an additional 138 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Royal Bank Of Canada by 86.5% in the second quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 180 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Royal Bank Of Canada in the second quarter worth about $51,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Down 0.1%

Shares of NYSE RY opened at $169.14 on Friday. The stock has a market cap of $236.38 billion, a PE ratio of 16.86, a P/E/G ratio of 1.21 and a beta of 0.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $174.61. The company has a 50-day moving average of $161.90 and a 200 day moving average of $147.85.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.25. The business had revenue of $12.27 billion for the quarter, compared to analysts’ expectations of $12.12 billion. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.07 EPS. As a group, sell-side analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be issued a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, January 26th. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 44.07%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RY. UBS Group restated a “buy” rating on shares of Royal Bank Of Canada in a report on Tuesday, November 25th. Cowen upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. 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 reissued a “buy (b)” rating on shares of Royal Bank Of Canada in a research note on Wednesday, October 8th. Finally, National Bankshares restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, December 4th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Company Profile

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.