First Citizens Bank & Trust Co. Has $4 Million Stock Holdings in Royal Bank Of Canada $RY

First Citizens Bank & Trust Co. boosted its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 229.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,757 shares of the financial services provider’s stock after purchasing an additional 17,235 shares during the period. First Citizens Bank & Trust Co.’s holdings in Royal Bank Of Canada were worth $4,005,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its holdings in Royal Bank Of Canada by 10.1% in the first quarter. First Trust Advisors LP now owns 331,050 shares of the financial services provider’s stock worth $53,544,000 after purchasing an additional 30,241 shares in the last quarter. Oslo Pensjonsforsikring AS acquired a new position in Royal Bank Of Canada during the 1st quarter valued at $548,000. Andra AP fonden lifted its stake in shares of Royal Bank Of Canada by 875.5% in the first quarter. Andra AP fonden now owns 157,077 shares of the financial services provider’s stock valued at $25,412,000 after buying an additional 140,974 shares during the period. Summit Global Investments increased its position in shares of Royal Bank Of Canada by 26.0% during the first quarter. Summit Global Investments now owns 4,516 shares of the financial services provider’s stock valued at $731,000 after purchasing an additional 931 shares during the period. Finally, Cassaday & Co Wealth Management LLC bought a new position in Royal Bank Of Canada in the first quarter worth $134,000. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Price Performance

RY opened at $211.53 on Thursday. The company has a fifty day moving average price of $199.92 and a two-hundred day moving average price of $180.35. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. Royal Bank Of Canada has a 52 week low of $127.38 and a 52 week high of $218.57. The firm has a market capitalization of $293.31 billion, a PE ratio of 19.01, a P/E/G ratio of 1.67 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 17.68% and a net margin of 15.92%.The firm’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the company earned $3.12 EPS. As a group, analysts anticipate that Royal Bank Of Canada will post 11.45 earnings per share for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be issued a dividend of $1.76 per share. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, July 27th. Royal Bank Of Canada’s dividend payout ratio is presently 42.41%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Friday, May 29th. 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. Argus set a $225.00 price objective on Royal Bank Of Canada in a report on Thursday, June 11th. Finally, Raymond James Financial lowered shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Ten research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.00.

About Royal Bank Of Canada

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.