MidFirst Bank Buys New Position in Royal Bank Of Canada $RY

MidFirst Bank bought a new stake in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 25,599 shares of the financial services provider’s stock, valued at approximately $5,298,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Royal Bank Of Canada during the fourth quarter worth about $3,472,382,000. Deutsche Bank AG acquired a new position in shares of Royal Bank Of Canada in the second quarter valued at approximately $540,037,000. Alberta Investment Management Corp acquired a new position in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $324,237,000. Assenagon Asset Management S.A. increased its stake in Royal Bank Of Canada by 3,329.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,589,605 shares of the financial services provider’s stock worth $329,002,000 after buying an additional 1,543,260 shares during the period. Finally, BlackRock Inc. purchased a new stake in Royal Bank Of Canada during the 2nd quarter worth approximately $303,751,000. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RY. TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Raymond James Financial lowered Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Finally, Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $225.00.

Royal Bank Of Canada Stock Down 0.2%

Shares of Royal Bank Of Canada stock opened at $216.19 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. Royal Bank Of Canada has a 52-week low of $135.92 and a 52-week high of $218.57. The company has a market capitalization of $299.77 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.71 and a beta of 0.80. The company has a 50 day moving average of $207.83 and a 200 day moving average of $185.66.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. The business had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. Royal Bank Of Canada had a net margin of 15.92% and a return on equity of 17.68%. The company’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $3.12 EPS. As a group, research analysts forecast that Royal Bank Of Canada will post 11.47 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be issued a $1.76 dividend. This represents a $7.04 annualized dividend and a yield of 3.3%. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date of this dividend is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is currently 44.56%.

Royal Bank Of Canada 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.