Keybank National Association OH Has $1.29 Million Stock Position in Royal Bank Of Canada $RY

Keybank National Association OH increased its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 264.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 7,962 shares of the financial services provider’s stock after acquiring an additional 5,778 shares during the period. Keybank National Association OH’s holdings in Royal Bank Of Canada were worth $1,288,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd acquired a new stake in Royal Bank Of Canada in the fourth quarter valued at $25,000. Tradewinds Capital Management LLC bought a new stake in shares of Royal Bank Of Canada in the 4th quarter valued at about $26,000. Key Financial Inc raised its holdings 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 purchasing an additional 63 shares during the period. Johnson Financial Group Inc. acquired a new stake in Royal Bank Of Canada in the 3rd quarter valued at about $27,000. Finally, Maseco LLP lifted its stake 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 last quarter. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Stock Performance

Royal Bank Of Canada stock traded up $0.08 during trading hours on Tuesday, hitting $208.13. The company had a trading volume of 121,262 shares, compared to its average volume of 1,520,632. The firm has a 50-day moving average of $191.45 and a 200 day moving average of $176.53. 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 firm has a market cap of $289.25 billion, a PE ratio of 18.69, a PEG ratio of 1.62 and a beta of 0.80. Royal Bank Of Canada has a one year low of $127.38 and a one year high of $209.37.

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 company had revenue of $12.84 billion for 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 firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.12 earnings per share. On average, sell-side analysts expect that Royal Bank Of Canada will post 11.45 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a dividend of $1.76 per share. This represents a $7.04 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio (DPR) is 42.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RY. Weiss Ratings downgraded Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Monday, June 29th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.