2,535 Shares of Royal Bank Of Canada $RY Bought by Noesis Capital Mangement Corp

Noesis Capital Mangement Corp purchased a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) during the third quarter, HoldingsChannel.com reports. The fund purchased 2,535 shares of the financial services provider’s stock, valued at approximately $498,000.

Other large investors also recently modified their holdings of the company. Bank of Nova Scotia purchased a new position in Royal Bank Of Canada during the second quarter valued at approximately $2,549,157,000. The Manufacturers Life Insurance Company lifted its stake in Royal Bank Of Canada by 2.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 12,130,512 shares of the financial services provider’s stock worth $1,959,185,000 after purchasing an additional 250,859 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Royal Bank Of Canada in the 2nd quarter worth approximately $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Royal Bank Of Canada in the 2nd quarter valued at $2,260,820,000. Finally, Legal & General Group Plc bought a new position in Royal Bank Of Canada in the 2nd quarter valued at $1,645,758,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank Of Canada Price Performance

Shares of NYSE:RY opened at $202.77 on Tuesday. The company’s fifty day moving average price is $202.35 and its 200-day moving average price is $188.27. The firm has a market capitalization of $280.62 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 1.80 and a beta of 0.80. Royal Bank Of Canada has a one year low of $143.38 and a one year high of $218.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.18. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. The company had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $12.98 billion. On average, equities research analysts anticipate that Royal Bank Of Canada will post 11.83 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be paid a C$1.76 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, October 26th. Royal Bank Of Canada’s dividend payout ratio is currently 43.39%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. Keefe, Bruyette & Woods started coverage on Royal Bank Of Canada in a research report on Friday, August 21st. They issued a “market perform” rating on the stock. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, August 28th. Finally, Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and provides banking, wealth management, capital markets, insurance and investor services to individuals, businesses, institutions and governments.

RBC’s personal and commercial banking operations offer deposit accounts, lending, mortgages, credit cards, payment services and financial advice. Its wealth management business provides investment management, private banking, trust, brokerage and advisory services, while RBC Capital Markets delivers investment banking, sales and trading, research and corporate finance services.