Royal Bank Of Canada $RY is Summerhill Capital Management lnc.’s 3rd Largest Position

Summerhill Capital Management lnc. grew its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,207 shares of the financial services provider’s stock after acquiring an additional 2,480 shares during the period. Royal Bank Of Canada comprises 8.1% of Summerhill Capital Management lnc.’s portfolio, making the stock its 3rd largest holding. Summerhill Capital Management lnc.’s holdings in Royal Bank Of Canada were worth $9,229,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harvest Fund Management Co. Ltd acquired a new stake in Royal Bank Of Canada in the fourth quarter valued at about $25,000. Tradewinds Capital Management LLC acquired a new position in Royal Bank Of Canada during the 4th quarter worth approximately $26,000. Johnson Financial Group Inc. acquired a new position in Royal Bank Of Canada during the 3rd quarter worth approximately $27,000. Maseco LLP raised its stake in shares of Royal Bank Of Canada by 355.0% during the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after buying an additional 142 shares in the last quarter. Finally, Highline Wealth Partners LLC raised its stake in shares of Royal Bank Of Canada by 75.4% during the 4th quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after buying an additional 89 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on RY shares. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Monday, June 1st. Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 12th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a report on Friday, May 29th. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Finally, Argus set a $225.00 price target on shares of Royal Bank Of Canada in a report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $203.00 on Friday. The stock has a fifty day moving average price of $188.63 and a 200 day moving average price of $175.03. The stock has a market cap of $282.12 billion, a PE ratio of 18.24, a P/E/G ratio of 1.61 and a beta of 0.81. Royal Bank Of Canada has a 1 year low of $127.38 and a 1 year high of $204.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.70 and a current ratio of 0.82.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The company had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.74 billion. During the same quarter in the prior year, the company earned $3.12 earnings per share. Royal Bank Of Canada’s revenue was up 11.4% compared to the same quarter last year. Sell-side analysts forecast that Royal Bank Of Canada will post 11.45 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, July 27th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.64. Royal Bank Of Canada’s dividend payout ratio is currently 42.41%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.