Royal Bank of Canada (NYSE:RY) Stake Boosted by Enterprise Bank & Trust Co

Enterprise Bank & Trust Co raised its holdings in shares of Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) by 18.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. BlackRock Inc. grew its position in shares of Royal Bank of Canada by 5.3% during the 1st quarter. BlackRock Inc. now owns 817,482 shares of the financial services provider’s stock valued at $90,144,000 after buying an additional 41,346 shares during the last quarter. Raymond James Trust N.A. grew its position in shares of Royal Bank of Canada by 5.7% during the first quarter. Raymond James Trust N.A. now owns 7,030 shares of the financial services provider’s stock worth $775,000 after acquiring an additional 382 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Royal Bank of Canada by 2.0% in the 1st quarter. Blair William & Co. IL now owns 23,498 shares of the financial services provider’s stock worth $2,591,000 after acquiring an additional 458 shares during the period. Sequoia Financial Advisors LLC increased its holdings in shares of Royal Bank of Canada by 47.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 4,942 shares of the financial services provider’s stock worth $545,000 after acquiring an additional 1,582 shares during the period. Finally, Thomas White International Ltd. lifted its position in Royal Bank of Canada by 4.6% in the 1st quarter. Thomas White International Ltd. now owns 15,778 shares of the financial services provider’s stock valued at $1,740,000 after purchasing an additional 701 shares during the last quarter. 41.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RY has been the subject of a number of research analyst reports. Bank of America raised shares of Royal Bank of Canada from an “underperform” rating to a “neutral” rating in a research note on Monday, December 12th. Canaccord Genuity Group raised their target price on shares of Royal Bank of Canada from C$131.00 to C$136.00 and gave the stock a “buy” rating in a report on Thursday, December 1st. National Bank Financial cut their price target on shares of Royal Bank of Canada from C$148.00 to C$147.00 in a report on Thursday, December 1st. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods raised shares of Royal Bank of Canada from an “underperform” rating to a “market perform” rating in a research note on Thursday, December 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.50.

Royal Bank of Canada Stock Down 2.7 %

RY stock traded down $2.61 during midday trading on Friday, reaching $92.65. The company had a trading volume of 1,206,305 shares, compared to its average volume of 913,002. The company has a 50 day moving average of $100.55 and a two-hundred day moving average of $96.52. The company has a market capitalization of $128.40 billion, a P/E ratio of 11.51, a PEG ratio of 1.70 and a beta of 0.84. Royal Bank of Canada has a 1 year low of $83.63 and a 1 year high of $114.55. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 24th. Shareholders of record on Tuesday, April 25th will be given a $0.992 dividend. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.98. This represents a $3.97 annualized dividend and a yield of 4.28%. The ex-dividend date is Monday, April 24th. Royal Bank of Canada’s dividend payout ratio is presently 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.