3,478 Shares in Royal Bank Of Canada $RY Acquired by BayBridge Capital Group LLC

BayBridge Capital Group LLC bought a new position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 3,478 shares of the financial services provider’s stock, valued at approximately $720,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Royal Bank Of Canada during the 4th quarter worth approximately $3,472,382,000. Bank of Nova Scotia bought a new stake in shares of Royal Bank Of Canada in the 2nd quarter valued at $2,549,157,000. The Manufacturers Life Insurance Company bought a new stake in shares of Royal Bank Of Canada in the 2nd quarter valued at $2,296,717,000. Canada Pension Plan Investment Board acquired a new position in shares of Royal Bank Of Canada during the 2nd quarter valued at $2,275,797,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Royal Bank Of Canada during the second quarter worth $2,260,820,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Down 0.8%

NYSE:RY opened at $208.99 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a 50-day moving average of $209.68 and a 200-day moving average of $189.86. The company has a market cap of $289.79 billion, a PE ratio of 18.28, a PEG ratio of 1.85 and a beta of 0.79. Royal Bank Of Canada has a one year low of $143.13 and a one year high of $218.57.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.18. The business had revenue of $13.22 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. As a group, equities research analysts expect that Royal Bank Of Canada will post 12.07 EPS for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be issued a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, October 26th. Royal Bank Of Canada’s dividend payout ratio (DPR) is currently 44.44%.

Analyst Upgrades and Downgrades

A number of research firms have commented on RY. Raymond James Financial cut shares of Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 12th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research report on Friday, August 21st. Argus set a $225.00 target price on Royal Bank Of Canada in a research report on Thursday, June 11th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. Finally, TD Securities reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

About Royal Bank Of Canada

Royal Bank of Canada (RBC) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it is one of Canada’s largest banks and serves individuals, businesses, institutions and governments.

RBC provides personal and commercial banking products, including deposit accounts, mortgages, consumer and business loans, credit cards and payment services. Through its wealth management operations, the company offers investment advice, brokerage, asset management, trust and estate services, and private banking.