Cwm LLC raised its position in Royal Bank of Canada (NYSE:RY – Free Report) (TSE:RY) by 35.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,618 shares of the financial services provider’s stock after purchasing an additional 680 shares during the period. Cwm LLC’s holdings in Royal Bank of Canada were worth $250,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Baldwin Brothers LLC MA purchased a new stake in shares of Royal Bank of Canada in the 4th quarter valued at approximately $28,000. Delta Asset Management LLC TN purchased a new position in shares of Royal Bank of Canada during the 4th quarter worth approximately $29,000. Money Concepts Capital Corp purchased a new position in shares of Royal Bank of Canada during the 4th quarter worth approximately $38,000. Tradition Wealth Management LLC purchased a new position in shares of Royal Bank of Canada during the 4th quarter worth approximately $38,000. Finally, Grey Fox Wealth Advisors LLC acquired a new stake in Royal Bank of Canada during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 36.75% of the company’s stock.
Analyst Ratings Changes
A number of research firms have issued reports on RY. CIBC lowered shares of Royal Bank of Canada from a “sector outperform” rating to a “neutral” rating in a report on Tuesday, May 16th. Barclays lowered shares of Royal Bank of Canada from an “overweight” rating to an “underweight” rating in a report on Tuesday, May 9th. Finally, StockNews.com assumed coverage on shares of Royal Bank of Canada in a report on Thursday, May 18th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $139.17.
Royal Bank of Canada Stock Down 0.3 %
Royal Bank of Canada (NYSE:RY – Get Free Report) (TSE:RY) last released its quarterly earnings results on Thursday, May 25th. The financial services provider reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.12). The firm had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.53 billion. Royal Bank of Canada had a net margin of 15.27% and a return on equity of 15.36%. On average, analysts expect that Royal Bank of Canada will post 8.21 EPS for the current fiscal year.
Royal Bank of Canada Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Wednesday, July 26th will be issued a dividend of $0.996 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.99. This represents a $3.98 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Tuesday, July 25th. Royal Bank of Canada’s payout ratio is currently 53.61%.
About Royal Bank of Canada
Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.
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