Crews Bank & Trust Acquires Shares of 302 Royal Bank of Canada (NYSE:RY)

Crews Bank & Trust bought a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 302 shares of the financial services provider’s stock, valued at approximately $36,000.

A number of other institutional investors have also made changes to their positions in RY. PNC Financial Services Group Inc. increased its stake in Royal Bank of Canada by 6.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 84,045 shares of the financial services provider’s stock worth $10,483,000 after buying an additional 4,980 shares during the period. Creative Planning grew its stake in shares of Royal Bank of Canada by 6.4% during the third quarter. Creative Planning now owns 211,411 shares of the financial services provider’s stock valued at $26,369,000 after acquiring an additional 12,693 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Royal Bank of Canada by 0.9% in the third quarter. CIBC Asset Management Inc now owns 13,622,472 shares of the financial services provider’s stock worth $1,706,833,000 after acquiring an additional 124,348 shares in the last quarter. Algert Global LLC acquired a new position in shares of Royal Bank of Canada in the third quarter worth about $706,000. Finally, Bridgewater Associates LP boosted its holdings in Royal Bank of Canada by 150.7% in the third quarter. Bridgewater Associates LP now owns 74,025 shares of the financial services provider’s stock valued at $9,249,000 after purchasing an additional 44,494 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Performance

Shares of RY opened at $122.19 on Friday. The stock has a market capitalization of $172.82 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.82 and a beta of 0.87. The business’s fifty day moving average price is $122.38 and its 200 day moving average price is $120.19. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a $1.0522 dividend. The ex-dividend date of this dividend is Monday, January 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a dividend yield of 3.44%. Royal Bank of Canada’s payout ratio is 49.76%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. BMO Capital Markets cut their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.50.

About Royal Bank of Canada

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.