Gibbs Wealth Management Has $2.46 Million Position in Royal Bank Of Canada $RY

Gibbs Wealth Management lifted its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 29.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,174 shares of the financial services provider’s stock after purchasing an additional 3,472 shares during the period. Gibbs Wealth Management’s holdings in Royal Bank Of Canada were worth $2,455,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Harvest Fund Management Co. Ltd acquired a new stake in shares of Royal Bank Of Canada in the fourth quarter worth $25,000. Tradewinds Capital Management LLC acquired a new position in Royal Bank Of Canada during the 4th quarter valued at $26,000. Key Financial Inc raised its stake in Royal Bank Of Canada by 63.0% during the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 63 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in Royal Bank Of Canada in the 3rd quarter valued at $27,000. Finally, Maseco LLP boosted its holdings in Royal Bank Of Canada by 355.0% in the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 142 shares during the period. Institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on RY. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. Weiss Ratings lowered Royal Bank Of Canada from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Monday, June 29th. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Finally, Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. Ten equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Stock Performance

NYSE:RY opened at $208.40 on Friday. Royal Bank Of Canada has a 12-month low of $127.38 and a 12-month high of $218.57. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $288.97 billion, a PE ratio of 18.72, a price-to-earnings-growth ratio of 1.67 and a beta of 0.80. The firm has a 50-day moving average price of $200.41 and a 200 day moving average price of $180.62.

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 analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.74 billion. During the same period in the previous year, the business earned $3.12 earnings per share. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Research analysts anticipate that Royal Bank Of Canada will post 11.45 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, July 27th will be given a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 3.4%. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 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.