Godsey & Gibb Associates boosted its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 185,717 shares of the financial services provider’s stock after buying an additional 3,190 shares during the quarter. Royal Bank of Canada makes up 2.5% of Godsey & Gibb Associates’ investment portfolio, making the stock its 15th largest holding. Godsey & Gibb Associates’ holdings in Royal Bank of Canada were worth $14,354,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RY. SWS Partners purchased a new stake in Royal Bank of Canada in the 4th quarter valued at $134,000. Delpha Capital Management LLC purchased a new stake in Royal Bank of Canada in the 4th quarter valued at $151,000. Private Advisor Group LLC purchased a new stake in Royal Bank of Canada in the 4th quarter valued at $203,000. Cypress Capital Management LLC bought a new position in Royal Bank of Canada in the 4th quarter valued at $204,000. Finally, Bray Capital Advisors bought a new position in Royal Bank of Canada in the 4th quarter valued at $208,000. 40.57% of the stock is owned by institutional investors and hedge funds.
Royal Bank of Canada opened at $76.30 on Friday, Marketbeat Ratings reports. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.13. The firm has a market cap of $109.12 billion, a PE ratio of 12.59, a PEG ratio of 1.37 and a beta of 1.15. Royal Bank of Canada has a fifty-two week low of $70.43 and a fifty-two week high of $87.10.
Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 24th. The financial services provider reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.03. The company had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.95 billion. Royal Bank of Canada had a return on equity of 17.76% and a net margin of 21.75%. equities analysts forecast that Royal Bank of Canada will post 6.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 24th. Stockholders of record on Thursday, July 26th will be paid a dividend of $0.7296 per share. The ex-dividend date of this dividend is Wednesday, July 25th. This represents a $2.92 annualized dividend and a dividend yield of 3.83%. Royal Bank of Canada’s payout ratio is 48.84%.
A number of research analysts have issued reports on the company. Zacks Investment Research downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Friday. Macquarie upgraded Royal Bank of Canada from an “underperform” rating to a “neutral” rating in a research note on Friday, June 8th. National Bank Financial upgraded Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research note on Monday, June 4th. Finally, ValuEngine downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Thursday, March 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $97.20.
Royal Bank of Canada Profile
Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.
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