Wambolt & Associates LLC Purchases 1,392 Shares of Royal Bank of Canada (NYSE:RY)

Wambolt & Associates LLC grew its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 34.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 5,415 shares of the financial services provider’s stock after acquiring an additional 1,392 shares during the quarter. Wambolt & Associates LLC’s holdings in Royal Bank of Canada were worth $430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RY. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in shares of Royal Bank of Canada during the 1st quarter valued at approximately $332,201,000. Toronto Dominion Bank boosted its position in shares of Royal Bank of Canada by 10.4% during the 1st quarter. Toronto Dominion Bank now owns 19,629,673 shares of the financial services provider’s stock valued at $1,481,311,000 after acquiring an additional 1,853,129 shares during the last quarter. State of Tennessee Treasury Department bought a new position in shares of Royal Bank of Canada during the 1st quarter valued at approximately $86,128,000. TD Asset Management Inc. boosted its position in shares of Royal Bank of Canada by 1.3% during the 1st quarter. TD Asset Management Inc. now owns 37,487,585 shares of the financial services provider’s stock valued at $2,829,072,000 after acquiring an additional 491,062 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Royal Bank of Canada by 69.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 530,376 shares of the financial services provider’s stock valued at $40,026,000 after acquiring an additional 217,609 shares during the last quarter. Hedge funds and other institutional investors own 41.54% of the company’s stock.

A number of research analysts have recently commented on the company. Desjardins reiterated a “buy” rating and set a $111.00 target price on shares of Royal Bank of Canada in a research report on Thursday, May 16th. Zacks Investment Research upgraded Royal Bank of Canada from a “sell” rating to a “buy” rating and set a $89.00 target price for the company in a research report on Thursday, August 1st. BMO Capital Markets reiterated a “hold” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. Finally, Barclays reiterated a “sell” rating on shares of Royal Bank of Canada in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $100.00.

RY traded down $0.50 during trading on Wednesday, reaching $75.56. The company had a trading volume of 549,071 shares, compared to its average volume of 730,280. The company has a market capitalization of $108.30 billion, a PE ratio of 11.57, a P/E/G ratio of 2.01 and a beta of 1.09. The business’s 50 day moving average is $79.45. Royal Bank of Canada has a 52 week low of $65.76 and a 52 week high of $81.56. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Thursday, May 23rd. The financial services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.04. The company had revenue of $8.63 billion during the quarter, compared to the consensus estimate of $7.60 billion. Royal Bank of Canada had a return on equity of 17.36% and a net margin of 20.04%. During the same period last year, the company earned $2.06 earnings per share. On average, equities research analysts expect that Royal Bank of Canada will post 6.73 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, July 25th will be given a $0.7596 dividend. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $3.04 dividend on an annualized basis and a yield of 4.02%. Royal Bank of Canada’s dividend payout ratio is presently 47.78%.

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 check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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