11,358 Shares in Royal Bank Of Canada $RY Bought by Danske Bank A S

Danske Bank A S bought a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,358 shares of the financial services provider’s stock, valued at approximately $2,343,000.

A number of other hedge funds have also modified their holdings of the stock. Harvest Fund Management Co. Ltd bought a new position in Royal Bank Of Canada during the 4th quarter valued at about $25,000. Key Financial Inc increased its stake in shares of Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after buying an additional 63 shares during the period. Johnson Financial Group Inc. bought a new stake in shares of Royal Bank Of Canada during the third quarter worth $27,000. Maseco LLP lifted its stake in shares of Royal Bank Of Canada by 355.0% during the first quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 142 shares during the period. Finally, Bell Investment Advisors Inc bought a new position in Royal Bank Of Canada in the second quarter valued at about $32,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Price Performance

RY stock opened at $204.86 on Friday. The stock has a market cap of $284.06 billion, a price-to-earnings ratio of 18.41, a P/E/G ratio of 1.62 and a beta of 0.80. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. The company has a 50 day simple moving average of $208.56 and a 200 day simple moving average of $186.66. Royal Bank Of Canada has a 1 year low of $135.97 and a 1 year high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, beating the consensus estimate of $2.81 by $0.03. The firm had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.74 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the company earned $3.12 earnings per share. Research analysts anticipate that Royal Bank Of Canada will post 11.47 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is 44.56%.

Wall Street Analyst Weigh In

RY has been the subject of several recent research reports. Argus set a $225.00 target price on shares of Royal Bank Of Canada in a research report on Thursday, June 11th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Finally, Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada 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.