Westover Capital Advisors LLC Has $512,000 Position in Royal Bank of Canada (NYSE:RY)

Westover Capital Advisors LLC lessened its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 11.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,064 shares of the financial services provider’s stock after selling 672 shares during the quarter. Westover Capital Advisors LLC’s holdings in Royal Bank of Canada were worth $512,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Banque Cantonale Vaudoise acquired a new stake in Royal Bank of Canada during the 3rd quarter valued at $26,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Royal Bank of Canada during the third quarter valued at $34,000. First Horizon Advisors Inc. boosted its stake in shares of Royal Bank of Canada by 64.7% in the 4th quarter. First Horizon Advisors Inc. now owns 471 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 185 shares during the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Royal Bank of Canada during the third quarter worth approximately $44,000. Finally, Addison Advisors LLC lifted its holdings in Royal Bank of Canada by 131.0% in the fourth quarter. Addison Advisors LLC now owns 529 shares of the financial services provider’s stock valued at $53,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Royal Bank of Canada Stock Up 1.7 %

Shares of RY traded up $1.69 during midday trading on Thursday, hitting $99.07. The stock had a trading volume of 381,333 shares, compared to its average volume of 1,199,548. The firm has a market cap of $140.16 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 1.67 and a beta of 0.85. The company has a 50 day simple moving average of $99.09 and a two-hundred day simple moving average of $95.07. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $103.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, beating 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, analysts anticipate that Royal Bank of Canada will post 8.45 EPS for the current year.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Thursday, April 25th will be given a $1.0207 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date is Wednesday, April 24th. This represents a $4.08 annualized dividend and a dividend yield of 4.12%. Royal Bank of Canada’s dividend payout ratio is presently 25.31%.

Royal Bank of Canada Company 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.