Enterprise Bank & Trust Co Has $536,000 Stock Holdings in Royal Bank of Canada (NYSE:RY)

Enterprise Bank & Trust Co boosted its holdings in Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) by 18.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,700 shares of the financial services provider’s stock after purchasing an additional 900 shares during the period. Enterprise Bank & Trust Co’s holdings in Royal Bank of Canada were worth $536,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC bought a new stake in shares of Royal Bank of Canada in the 2nd quarter valued at approximately $29,000. Financial Management Professionals Inc. boosted its stake in Royal Bank of Canada by 64.9% in the 3rd quarter. Financial Management Professionals Inc. now owns 343 shares of the financial services provider’s stock valued at $31,000 after buying an additional 135 shares in the last quarter. Private Trust Co. NA bought a new stake in Royal Bank of Canada in the second quarter valued at $49,000. Hexagon Capital Partners LLC raised its stake in Royal Bank of Canada by 123.9% during the third quarter. Hexagon Capital Partners LLC now owns 553 shares of the financial services provider’s stock worth $50,000 after acquiring an additional 306 shares in the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Royal Bank of Canada during the third quarter valued at $67,000. Institutional investors and hedge funds own 41.19% of the company’s stock.

Analyst Ratings Changes

RY has been the topic of several analyst reports. Keefe, Bruyette & Woods raised shares of Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a report on Thursday, December 1st. National Bank Financial decreased their target price on Royal Bank of Canada from C$148.00 to C$147.00 in a report on Thursday, December 1st. Bank of America raised Royal Bank of Canada from an “underperform” rating to a “neutral” rating in a report on Monday, December 12th. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Desjardins upped their target price on shares of Royal Bank of Canada from C$145.00 to C$147.00 in a research report on Tuesday, February 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $139.50.

Royal Bank of Canada Trading Down 2.7 %

NYSE RY traded down $2.61 on Friday, reaching $92.65. The company had a trading volume of 1,206,305 shares, compared to its average volume of 913,002. Royal Bank of Canada has a 52 week low of $83.63 and a 52 week high of $114.55. The stock’s 50 day moving average is $100.55 and its 200-day moving average is $96.52. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The stock has a market cap of $128.40 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 1.70 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 24th. Stockholders of record on Tuesday, April 25th will be paid a $0.992 dividend. The ex-dividend date is Monday, April 24th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $0.98. This represents a $3.97 dividend on an annualized basis and a dividend yield of 4.28%. Royal Bank of Canada’s dividend payout ratio is 48.32%.

About Royal Bank of Canada

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Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following segments: Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, Capital Markets, and Corporate Support. The Personal and Commercial Banking segment deals with a broad suite of financial products and services in Canada.