Smith Chas P & Associates PA Cpas Makes New Investment in Royal Bank of Canada (NYSE:RY)

Smith Chas P & Associates PA Cpas purchased a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,023 shares of the financial services provider’s stock, valued at approximately $244,000.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in Royal Bank of Canada during the 3rd quarter worth approximately $25,000. Dunhill Financial LLC bought a new stake in shares of Royal Bank of Canada in the third quarter worth $25,000. Larson Financial Group LLC acquired a new position in Royal Bank of Canada during the third quarter worth $26,000. Whittier Trust Co. of Nevada Inc. grew its position in Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares in the last quarter. Finally, Grove Bank & Trust acquired a new stake in Royal Bank of Canada in the 3rd quarter valued at $28,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. BMO Capital Markets reduced their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Performance

RY opened at $122.62 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05. The business has a 50 day moving average of $122.47 and a 200-day moving average of $119.77. The stock has a market cap of $173.43 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 1.81 and a beta of 0.87.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. This represents a $4.21 dividend on an annualized basis and a yield of 3.43%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s payout ratio is 50.85%.

Royal Bank of Canada 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.