Community Bank N.A. Increases Stock Holdings in Royal Bank of Canada (NYSE:RY)

Community Bank N.A. raised its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,315 shares of the financial services provider’s stock after acquiring an additional 150 shares during the quarter. Community Bank N.A.’s holdings in Royal Bank of Canada were worth $1,038,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Ballast Advisors LLC acquired a new position in Royal Bank of Canada during the 1st quarter worth $27,000. Bartlett & Co. LLC purchased a new position in shares of Royal Bank of Canada in the 1st quarter valued at about $37,000. Balentine LLC acquired a new position in shares of Royal Bank of Canada during the first quarter worth about $42,000. Asset Advisors Investment Management LLC purchased a new stake in shares of Royal Bank of Canada during the second quarter worth approximately $48,000. Finally, Meeder Asset Management Inc. acquired a new stake in Royal Bank of Canada in the first quarter valued at approximately $49,000. Institutional investors own 41.80% of the company’s stock.

Shares of NYSE RY traded down $0.30 during trading hours on Friday, reaching $69.09. The stock had a trading volume of 670,405 shares, compared to its average volume of 1,058,625. The firm has a market cap of $98.34 billion, a price-to-earnings ratio of 11.53, a PEG ratio of 2.59 and a beta of 0.89. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. Royal Bank of Canada has a fifty-two week low of $49.55 and a fifty-two week high of $82.74. The firm has a 50-day moving average of $68.64 and a 200-day moving average of $68.60.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, May 27th. The financial services provider reported $0.77 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.13 by ($0.36). The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $8.15 billion. Royal Bank of Canada had a net margin of 17.51% and a return on equity of 15.03%. On average, equities analysts predict that Royal Bank of Canada will post 5.15 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be given a $0.7839 dividend. The ex-dividend date is Friday, July 24th. This represents a $3.14 annualized dividend and a yield of 4.54%. Royal Bank of Canada’s dividend payout ratio (DPR) is 47.68%.

A number of equities research analysts have commented on RY shares. Scotiabank increased their price objective on shares of Royal Bank of Canada from $97.00 to $105.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. ValuEngine raised Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Tuesday, July 7th. BMO Capital Markets raised their price target on Royal Bank of Canada from $90.00 to $93.00 and gave the company a “market perform” rating in a research note on Thursday, May 28th. Canaccord Genuity upped their price objective on Royal Bank of Canada from $86.50 to $95.00 and gave the stock a “hold” rating in a research report on Thursday, May 28th. Finally, Credit Suisse Group raised their target price on Royal Bank of Canada from $100.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Royal Bank of Canada has a consensus rating of “Hold” and a consensus target price of $95.20.

About Royal Bank of Canada

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

Read More: What is the G-20?

Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank of Canada (NYSE:RY) (TSE:RY).

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

Receive News & Ratings for Royal Bank of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank of Canada and related companies with MarketBeat.com's FREE daily email newsletter.