Lindbrook Capital LLC Acquires 593 Shares of Royal Bank of Canada (NYSE:RY)

Lindbrook Capital LLC lifted its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 50.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,765 shares of the financial services provider’s stock after purchasing an additional 593 shares during the period. Lindbrook Capital LLC’s holdings in Royal Bank of Canada were worth $178,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of RY. Banque Cantonale Vaudoise bought a new position in Royal Bank of Canada during the 3rd quarter worth approximately $26,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Royal Bank of Canada in the third quarter valued at $34,000. Cullen Frost Bankers Inc. acquired a new position in Royal Bank of Canada in the third quarter valued at $44,000. Janiczek Wealth Management LLC boosted its position in Royal Bank of Canada by 36.8% during the fourth quarter. Janiczek Wealth Management LLC now owns 733 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 197 shares during the last quarter. Finally, Rowlandmiller & PARTNERS.ADV acquired a new stake in Royal Bank of Canada during the 4th quarter worth about $105,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $99.22 on Tuesday. The company has a market capitalization of $140.37 billion, a PE ratio of 12.50, a PEG ratio of 1.69 and a beta of 0.86. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average price is $99.00 and its 200-day moving average price is $94.48. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $103.88.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.05. The business had revenue of $9.98 billion for the quarter, compared to analyst estimates of $10.10 billion. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. On average, equities analysts anticipate that Royal Bank of Canada will post 8.45 EPS for the current year.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be given a dividend of $1.0207 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $4.08 annualized dividend and a yield of 4.11%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. Royal Bank of Canada’s dividend payout ratio is presently 37.66%.

Analysts Set New Price Targets

RY has been the topic of several research analyst reports. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. BMO Capital Markets upgraded Royal Bank of Canada from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $140.00 to $150.00 in a report on Friday, April 5th. Jefferies Financial Group initiated coverage on shares of Royal Bank of Canada in a research note on Thursday, February 22nd. They issued a “hold” rating for the company. Finally, Barclays began coverage on shares of Royal Bank of Canada in a research note on Wednesday, March 20th. They set an “equal weight” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $137.67.

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.