Vise Technologies Inc. Makes New Investment in Royal Bank Of Canada $RY

Vise Technologies Inc. acquired a new position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 32,102 shares of the financial services provider’s stock, valued at approximately $6,644,000.

Other large investors have also made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new stake in Royal Bank Of Canada during the fourth quarter worth about $25,000. Key Financial Inc raised its holdings 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 valued at $26,000 after acquiring an additional 63 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Royal Bank Of Canada in the 3rd quarter worth approximately $27,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Royal Bank Of Canada in the 2nd quarter worth approximately $28,000. Finally, Maseco LLP grew its holdings in shares of Royal Bank Of Canada by 355.0% during the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 142 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

Shares of Royal Bank Of Canada stock opened at $205.27 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $284.63 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 1.64 and a beta of 0.80. Royal Bank Of Canada has a 1-year low of $135.92 and a 1-year high of $218.57. The firm’s 50-day moving average price is $208.46 and its two-hundred day moving average price is $186.53.

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

Royal Bank Of Canada Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, June 1st. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a report on Thursday, June 11th. Finally, TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Royal Bank Of Canada has a consensus 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.