Royal Bank of Canada (RY) Holding Boosted by BB&T Securities LLC

Royal Bank of Canada (RY) Holding Boosted by BB&T Securities LLC

BB&T Securities LLC increased its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 208.3% during the first quarter, Holdings Channel reports. The fund owned 11,160 shares of the financial services provider’s stock after buying an additional 21,463 shares during the period. BB&T Securities LLC’s holdings in Royal Bank of Canada were worth $813,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Welch Group LLC bought a new stake in Royal Bank of Canada during the first quarter valued at about $101,000. Quadrant Capital Group LLC raised its stake in Royal Bank of Canada by 12.9% in the first quarter. Quadrant Capital Group LLC now owns 1,644 shares of the financial services provider’s stock valued at $108,000 after buying an additional 188 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in Royal Bank of Canada during the third quarter valued at about $180,000. Rational Advisors LLC raised its stake in Royal Bank of Canada by 14.3% in the first quarter. Rational Advisors LLC now owns 2,708 shares of the financial services provider’s stock valued at $197,000 after buying an additional 338 shares during the last quarter. Finally, Washington Capital Management Inc. bought a new stake in Royal Bank of Canada during the first quarter valued at about $203,000. 46.14% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada (NYSE RY) traded up 0.20% on Friday, reaching $69.52. The company’s stock had a trading volume of 890,251 shares. The firm has a market capitalization of $101.28 billion, a price-to-earnings ratio of 12.87 and a beta of 1.19. Royal Bank of Canada has a 52 week low of $57.01 and a 52 week high of $76.01. The company has a 50 day moving average of $69.15 and a 200 day moving average of $70.31.

Royal Bank of Canada (NYSE:RY) last released its quarterly earnings data on Thursday, May 25th. The financial services provider reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.08. Royal Bank of Canada had a return on equity of 16.21% and a net margin of 22.15%. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $6.88 billion. During the same period in the prior year, the firm posted $1.66 earnings per share. On average, analysts forecast that Royal Bank of Canada will post $5.52 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Wednesday, July 26th will be issued a $0.6439 dividend. This represents a $2.58 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Monday, July 24th. Royal Bank of Canada’s dividend payout ratio is presently 49.90%.

Several equities research analysts have recently issued reports on the company. TD Securities raised Royal Bank of Canada from a “hold” rating to a “buy” rating in a research note on Wednesday, February 22nd. National Bank Financial reissued a “sector perform overweight” rating on shares of Royal Bank of Canada in a research note on Thursday, May 18th. Zacks Investment Research raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Thursday. TheStreet lowered Royal Bank of Canada from a “b-” rating to a “c+” rating in a research note on Tuesday, March 21st. Finally, Keefe, Bruyette & Woods raised Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a research note on Monday, February 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $85.63.

About Royal Bank of Canada

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “RY”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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