Lindbrook Capital LLC Buys 593 Shares of Royal Bank of Canada (NYSE:RY)

Lindbrook Capital LLC grew its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 50.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,765 shares of the financial services provider’s stock after acquiring an additional 593 shares during the quarter. Lindbrook Capital LLC’s holdings in Royal Bank of Canada were worth $178,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Banque Cantonale Vaudoise purchased a new position in shares of Royal Bank of Canada in the 3rd quarter worth about $26,000. Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Royal Bank of Canada during the 3rd quarter valued at about $34,000. Cullen Frost Bankers Inc. purchased a new position in Royal Bank of Canada in the third quarter worth about $44,000. Janiczek Wealth Management LLC lifted its stake in shares of Royal Bank of Canada by 36.8% in the fourth quarter. Janiczek Wealth Management LLC now owns 733 shares of the financial services provider’s stock worth $74,000 after buying an additional 197 shares in the last quarter. Finally, Rowlandmiller & PARTNERS.ADV purchased a new stake in shares of Royal Bank of Canada during the fourth quarter valued at approximately $105,000. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Price Performance

NYSE RY opened at $99.22 on Tuesday. The stock has a market capitalization of $140.37 billion, a price-to-earnings ratio of 12.50, a PEG ratio of 1.69 and a beta of 0.86. Royal Bank of Canada has a 1-year low of $77.90 and a 1-year high of $103.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The business’s fifty day moving average price is $99.00 and its 200-day moving average price is $94.48.

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

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be given a dividend of $1.0207 per share. This represents a $4.08 annualized dividend and a yield of 4.11%. This is a positive change 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 37.66%.

Analysts Set New Price Targets

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