BB&T Corp Has $4.11 Million Stake in Royal Bank Of Canada (NYSE:RY)

BB&T Corp increased its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 5.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 56,655 shares of the financial services provider’s stock after buying an additional 3,124 shares during the period. BB&T Corp’s holdings in Royal Bank Of Canada were worth $4,108,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in RY. Vanguard Group Inc. boosted its stake in Royal Bank Of Canada by 4.6% in the first quarter. Vanguard Group Inc. now owns 31,678,190 shares of the financial services provider’s stock worth $2,309,657,000 after buying an additional 1,402,437 shares during the last quarter. Beutel Goodman & Co Ltd. boosted its stake in Royal Bank Of Canada by 3.9% in the first quarter. Beutel Goodman & Co Ltd. now owns 18,815,431 shares of the financial services provider’s stock worth $1,368,526,000 after buying an additional 698,500 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its stake in Royal Bank Of Canada by 30.3% in the first quarter. OMERS ADMINISTRATION Corp now owns 2,774,400 shares of the financial services provider’s stock worth $201,561,000 after buying an additional 645,700 shares during the last quarter. FMR LLC boosted its stake in Royal Bank Of Canada by 1.9% in the first quarter. FMR LLC now owns 32,153,083 shares of the financial services provider’s stock worth $2,342,604,000 after buying an additional 596,315 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in Royal Bank Of Canada during the first quarter worth $39,001,000. 45.67% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada (NYSE RY) traded up 0.49% during trading on Friday, hitting $73.32. The company’s stock had a trading volume of 975,789 shares. The firm has a market cap of $106.82 billion, a PE ratio of 12.67 and a beta of 1.07. Royal Bank Of Canada has a one year low of $60.50 and a one year high of $76.01. The company has a 50-day moving average of $74.22 and a 200 day moving average of $72.07.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Thursday, May 25th. The financial services provider reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.08. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $6.88 billion. Royal Bank Of Canada had a net margin of 23.16% and a return on equity of 16.69%. During the same quarter in the prior year, the firm earned $1.66 earnings per share. On average, equities analysts forecast that Royal Bank Of Canada will post $5.86 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Wednesday, July 26th will be issued a dividend of $0.6439 per share. The ex-dividend date is Monday, July 24th. This represents a $2.58 annualized dividend and a yield of 3.51%. Royal Bank Of Canada’s dividend payout ratio is currently 49.36%.

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A number of research firms have recently weighed in on RY. BidaskClub raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday. Canaccord Genuity began coverage on Royal Bank Of Canada in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. Zacks Investment Research cut Royal Bank Of Canada from a “buy” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, National Bank Financial reaffirmed a “sector perform overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. Royal Bank Of Canada presently has a consensus rating of “Hold” and a consensus price target of $85.63.

About Royal Bank Of Canada

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

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

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