M&T Bank Corp boosted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 6.6% during the 4th quarter, HoldingsChannel reports. The firm owned 42,417 shares of the financial services provider’s stock after buying an additional 2,615 shares during the quarter. M&T Bank Corp’s holdings in Royal Bank of Canada were worth $3,464,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in shares of Royal Bank of Canada by 3.3% in the fourth quarter. Russell Investments Group Ltd. now owns 3,541,328 shares of the financial services provider’s stock valued at $288,624,000 after acquiring an additional 111,973 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Royal Bank of Canada by 0.8% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,221,839 shares of the financial services provider’s stock valued at $345,950,000 after acquiring an additional 32,808 shares in the last quarter. Quadrant Private Wealth Management LLC purchased a new position in shares of Royal Bank of Canada in the fourth quarter valued at about $645,000. Bray Capital Advisors purchased a new position in shares of Royal Bank of Canada in the fourth quarter valued at about $208,000. Finally, US Bancorp DE lifted its position in shares of Royal Bank of Canada by 1.0% in the fourth quarter. US Bancorp DE now owns 70,430 shares of the financial services provider’s stock valued at $5,751,000 after acquiring an additional 704 shares in the last quarter. Institutional investors own 40.44% of the company’s stock.

Shares of Royal Bank of Canada (NYSE RY) opened at $80.48 on Thursday. Royal Bank of Canada has a twelve month low of $66.66 and a twelve month high of $87.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market capitalization of $117,620.00, a PE ratio of 13.41, a PEG ratio of 1.33 and a beta of 1.08.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, November 29th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.05. Royal Bank of Canada had a return on equity of 17.01% and a net margin of 22.62%. The firm had revenue of $8.42 billion for the quarter, compared to analysts’ expectations of $7.68 billion. research analysts anticipate that Royal Bank of Canada will post 6.46 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Thursday, January 25th will be issued a $0.7157 dividend. The ex-dividend date is Wednesday, January 24th. This represents a $2.86 annualized dividend and a dividend yield of 3.56%. Royal Bank of Canada’s dividend payout ratio (DPR) is 47.33%.

Several equities analysts have recently commented on the company. Scotiabank restated a “hold” rating and issued a $101.00 price objective on shares of Royal Bank of Canada in a research report on Wednesday, November 22nd. CIBC downgraded Royal Bank of Canada from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 1st. Argus boosted their price objective on Royal Bank of Canada to $94.00 and gave the company a “buy” rating in a research report on Friday, January 5th. They noted that the move was a valuation call. Zacks Investment Research downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Tuesday, February 6th. Finally, Canaccord Genuity restated a “hold” rating and issued a $105.00 price objective on shares of Royal Bank of Canada in a research report on Wednesday, November 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $98.20.

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Royal Bank of Canada Company Profile

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.

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

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