OLD Point Trust & Financial Services N A Invests $2.73 Million in Royal Bank of Canada (NYSE:RY)

OLD Point Trust & Financial Services N A bought a new position in shares of Royal Bank of Canada (NYSE:RYFree Report) (TSE:RY) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 27,015 shares of the financial services provider’s stock, valued at approximately $2,732,000. Royal Bank of Canada makes up approximately 1.1% of OLD Point Trust & Financial Services N A’s portfolio, making the stock its 29th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in shares of Royal Bank of Canada during the third quarter worth approximately $26,000. First Horizon Advisors Inc. increased its holdings in Royal Bank of Canada by 64.7% in the fourth 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 period. Addison Advisors LLC boosted its position in Royal Bank of Canada by 131.0% during the fourth quarter. Addison Advisors LLC now owns 529 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 300 shares during the last quarter. Heritage Wealth Advisors bought a new stake in Royal Bank of Canada during the fourth quarter valued at $61,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Royal Bank of Canada by 192.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 716 shares of the financial services provider’s stock valued at $72,000 after buying an additional 471 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Stock Performance

Shares of RY stock traded down $1.23 during trading hours on Friday, hitting $106.39. The company’s stock had a trading volume of 395,016 shares, compared to its average volume of 727,404. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The company has a 50 day moving average of $102.28 and a 200 day moving average of $99.12. The stock has a market cap of $150.55 billion, a PE ratio of 13.20, a price-to-earnings-growth ratio of 1.69 and a beta of 0.87. Royal Bank of Canada has a 12-month low of $77.90 and a 12-month high of $109.51.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be paid a $1.03 dividend. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Thursday, July 25th. This represents a $4.12 annualized dividend and a dividend yield of 3.87%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 51.12%.

Analyst Upgrades and Downgrades

RY has been the topic of several recent analyst reports. Argus lifted their target price on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday. Scotiabank upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 17th. Jefferies Financial Group upgraded shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Barclays assumed coverage on shares of Royal Bank of Canada in a research note on Wednesday, March 20th. They issued an “equal weight” rating for the company. Finally, StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, May 31st. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average price target of $133.25.

Read Our Latest Analysis on RY

Royal Bank of Canada Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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