MidFirst Bank Purchases Shares of 26,462 Royal Bank Of Canada $RY

MidFirst Bank acquired a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,462 shares of the financial services provider’s stock, valued at approximately $4,512,000.

Several other large investors also recently modified their holdings of RY. HighTower Advisors LLC lifted its position in shares of Royal Bank Of Canada by 18.5% in the 4th quarter. HighTower Advisors LLC now owns 96,234 shares of the financial services provider’s stock worth $16,407,000 after purchasing an additional 15,046 shares during the period. Rathbones Group PLC increased its position in shares of Royal Bank Of Canada by 9.0% during the fourth quarter. Rathbones Group PLC now owns 325,014 shares of the financial services provider’s stock valued at $55,480,000 after buying an additional 26,782 shares during the period. Fisher Asset Management LLC increased its position in shares of Royal Bank Of Canada by 6.1% during the fourth quarter. Fisher Asset Management LLC now owns 6,373,400 shares of the financial services provider’s stock valued at $1,086,601,000 after buying an additional 368,534 shares during the period. Legal & General Group Plc raised its stake in Royal Bank Of Canada by 3.6% in the third quarter. Legal & General Group Plc now owns 8,275,134 shares of the financial services provider’s stock worth $1,219,924,000 after buying an additional 287,504 shares in the last quarter. Finally, Fiera Capital Corp raised its stake in Royal Bank Of Canada by 2.1% in the third quarter. Fiera Capital Corp now owns 4,854,424 shares of the financial services provider’s stock worth $715,227,000 after buying an additional 99,966 shares in the last quarter. 45.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RY has been the topic of a number of research analyst reports. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Argus set a $225.00 price objective on shares of Royal Bank Of Canada in a research note on Thursday, June 11th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Finally, Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Royal Bank Of Canada has a consensus rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $201.66 on Friday. The company has a 50 day moving average price of $185.04 and a 200-day moving average price of $173.24. Royal Bank Of Canada has a 52 week low of $126.02 and a 52 week high of $202.90. The firm has a market capitalization of $280.25 billion, a PE ratio of 18.12, a P/E/G ratio of 1.58 and a beta of 0.81. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.09.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.83%. The firm had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.74 billion. During the same period in the previous year, the company earned $3.12 earnings per share. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts expect that Royal Bank Of Canada will post 11.52 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be paid a dividend of $1.76 per share. The ex-dividend date is Monday, July 27th. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 42.41%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.