Zurcher Kantonalbank Zurich Cantonalbank Has $48.86 Million Stock Holdings in Royal Bank of Canada (NYSE:RY)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 3.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 480,825 shares of the financial services provider’s stock after acquiring an additional 15,041 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Royal Bank of Canada were worth $48,863,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in RY. Banque Cantonale Vaudoise bought a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at $26,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at $34,000. Money Concepts Capital Corp bought a new stake in shares of Royal Bank of Canada during the 4th quarter valued at $38,000. Cullen Frost Bankers Inc. bought a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at $44,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at $66,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $96.38 on Wednesday. The firm has a market cap of $136.35 billion, a PE ratio of 12.14, a PEG ratio of 1.69 and a beta of 0.86. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 1-year low of $77.90 and a 1-year high of $103.88. The company has a fifty day moving average price of $98.96 and a 200 day moving average price of $94.09.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.05. The firm had revenue of $9.98 billion during the quarter, compared to analyst estimates of $10.10 billion. Royal Bank of Canada had a net margin of 12.43% and a return on equity of 14.74%. Research analysts predict that Royal Bank of Canada will post 8.45 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 Friday, May 24th. Stockholders of record on Thursday, April 25th will be paid a dividend of $1.0207 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 4.24%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Wednesday, April 24th. Royal Bank of Canada’s dividend payout ratio is currently 37.66%.

Analyst Ratings Changes

Several analysts have commented on RY shares. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Barclays started coverage on shares of Royal Bank of Canada in a research report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Jefferies Financial Group started coverage on shares of Royal Bank of Canada in a research report on Thursday, February 22nd. They issued a “hold” rating for the company. Finally, BMO Capital Markets upgraded shares of Royal Bank of Canada from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $140.00 to $150.00 in a research report on Friday, April 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $137.67.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.