Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Royal Bank of Canada (NYSE:RY)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 519,538 shares of the financial services provider’s stock after purchasing an additional 17,917 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Royal Bank of Canada were worth $64,916,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Larson Financial Group LLC purchased a new stake in shares of Royal Bank of Canada in the third quarter worth $26,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Royal Bank of Canada by 110.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 118 shares in the last quarter. Grove Bank & Trust purchased a new position in shares of Royal Bank of Canada in the 3rd quarter worth about $28,000. Finally, Ridgewood Investments LLC purchased a new position in shares of Royal Bank of Canada in the 2nd quarter worth about $27,000. Institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

RY has been the subject of a number of analyst reports. BMO Capital Markets raised their price objective on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Stock Performance

Shares of NYSE RY opened at $125.27 on Thursday. The firm’s 50-day moving average price is $123.49 and its 200-day moving average price is $115.11. Royal Bank of Canada has a 52-week low of $85.02 and a 52-week high of $126.96. The company has a market cap of $177.09 billion, a PE ratio of 15.15, a PEG ratio of 1.92 and a beta of 0.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The company had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. As a group, analysts anticipate that Royal Bank of Canada will post 8.37 EPS for the current year.

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 checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.