Coastline Trust Co Invests $41,000 in Royal Bank of Canada (NYSE:RY)

Coastline Trust Co bought a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 325 shares of the financial services provider’s stock, valued at approximately $41,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. National Bank of Canada FI increased its position in shares of Royal Bank of Canada by 16.7% in the second quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock valued at $2,141,681,000 after acquiring an additional 2,901,033 shares during the period. Capital World Investors increased its holdings in Royal Bank of Canada by 75.0% during the 1st quarter. Capital World Investors now owns 6,320,246 shares of the financial services provider’s stock valued at $637,460,000 after purchasing an additional 2,708,534 shares during the period. Canada Pension Plan Investment Board raised its position in Royal Bank of Canada by 40.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 5,039,171 shares of the financial services provider’s stock valued at $508,739,000 after purchasing an additional 1,452,127 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Royal Bank of Canada in the 3rd quarter worth approximately $153,217,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Royal Bank of Canada in the 2nd quarter worth approximately $29,254,000. 45.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RY has been the subject of a number of research analyst reports. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday. BMO Capital Markets lifted their target price on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Royal Bank of Canada has an average rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at $121.47 on Monday. The stock has a market cap of $171.72 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.86 and a beta of 0.86. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. Royal Bank of Canada has a 1 year low of $85.02 and a 1 year high of $126.96. The firm’s 50-day moving average is $123.37 and its 200 day moving average is $113.95.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.23. The firm had revenue of $10.68 billion for the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. Sell-side analysts anticipate that Royal Bank of Canada will post 8.88 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be issued a $1.028 dividend. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s payout ratio is 50.79%.

Royal Bank of Canada Company Profile

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.