Ieq Capital LLC Takes Position in Royal Bank Of Canada $RY

Ieq Capital LLC purchased a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 19,915 shares of the financial services provider’s stock, valued at approximately $4,122,000.

Several other institutional investors and hedge funds also recently bought and sold shares of RY. Harvest Fund Management Co. Ltd purchased a new stake in shares of Royal Bank Of Canada during the fourth quarter worth $25,000. Key Financial Inc boosted its stake in 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 worth $26,000 after purchasing an additional 63 shares during the period. Johnson Financial Group Inc. purchased a new position in Royal Bank Of Canada during the third quarter valued at approximately $27,000. BOK Financial Private Wealth Inc. purchased a new stake in Royal Bank Of Canada in the 2nd quarter worth approximately $28,000. Finally, Maseco LLP boosted its holdings in Royal Bank Of Canada by 355.0% in the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 142 shares during the period. 45.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RY. Argus set a $225.00 price objective on Royal Bank Of Canada in a research note on Thursday, June 11th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $203.99 on Tuesday. The company has a market capitalization of $282.85 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 1.54 and a beta of 0.80. The business has a 50 day moving average of $208.67 and a 200 day moving average of $187.02. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.82 and a quick ratio of 0.82. Royal Bank Of Canada has a 1-year low of $136.10 and a 1-year high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 EPS for the quarter, topping the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The firm had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same period last year, the firm posted $3.12 earnings per share. The business’s revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts predict that Royal Bank Of Canada will post 11.59 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, July 27th were paid a $1.76 dividend. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, July 27th. Royal Bank Of Canada’s payout ratio is presently 44.56%.

About Royal Bank Of Canada

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.