Cutler Investment Counsel LLC Takes Position in Royal Bank of Canada (NYSE:RY)

Cutler Investment Counsel LLC acquired a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 3,244 shares of the financial services provider’s stock, valued at approximately $328,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new stake in Royal Bank of Canada during the 3rd quarter worth about $26,000. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Royal Bank of Canada during the 3rd quarter worth about $34,000. Money Concepts Capital Corp acquired a new stake in Royal Bank of Canada during the 4th quarter worth about $38,000. Cullen Frost Bankers Inc. acquired a new stake in Royal Bank of Canada during the 3rd quarter worth about $44,000. Finally, Janiczek Wealth Management LLC grew its position in Royal Bank of Canada by 36.8% during the 4th quarter. Janiczek Wealth Management LLC now owns 733 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 197 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

NYSE:RY opened at $97.86 on Friday. Royal Bank of Canada has a 52 week low of $77.90 and a 52 week high of $103.88. 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 capitalization of $138.44 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.67 and a beta of 0.86. The stock’s 50-day moving average price is $98.97 and its 200-day moving average price is $94.22.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.05. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. The firm had revenue of $9.98 billion for the quarter, compared to analysts’ expectations of $10.10 billion. As a group, equities analysts expect that Royal Bank of Canada will post 8.45 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be issued a $1.0207 dividend. This represents a $4.08 annualized dividend and a yield of 4.17%. This is a boost 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 payout ratio is presently 37.66%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RY. BMO Capital Markets raised Royal Bank of Canada from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $140.00 to $150.00 in a research report on Friday, April 5th. StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Barclays initiated coverage on Royal Bank of Canada in a research report on Wednesday, March 20th. They set an “equal weight” rating on the stock. Finally, Jefferies Financial Group initiated coverage on Royal Bank of Canada in a research report on Thursday, February 22nd. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $137.67.

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 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.