Old North State Trust LLC Makes New Investment in Royal Bank Of Canada $RY

Old North State Trust LLC acquired a new stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,089 shares of the financial services provider’s stock, valued at approximately $2,088,000. Royal Bank Of Canada comprises 1.1% of Old North State Trust LLC’s investment portfolio, making the stock its 21st biggest holding.

A number of other institutional investors have also modified their holdings of RY. FIL Ltd lifted its stake in shares of Royal Bank Of Canada by 1.1% during the 4th quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider’s stock worth $3,965,133,000 after purchasing an additional 255,465 shares during the last quarter. Norges Bank purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $3,472,382,000. Bank of Nova Scotia boosted its stake in shares of Royal Bank Of Canada by 1.6% in the fourth quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider’s stock worth $2,596,904,000 after acquiring an additional 238,589 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Royal Bank Of Canada by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock valued at $2,389,773,000 after purchasing an additional 882,253 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Royal Bank Of Canada by 2.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 12,130,512 shares of the financial services provider’s stock worth $1,959,185,000 after buying an additional 250,859 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada News Summary

Here are the key news stories impacting Royal Bank Of Canada this week:

• Positive Sentiment: Royal Bank reported quarterly earnings of $3.07 per share, exceeding the consensus estimate of $2.89 and rising from $2.79 a year earlier. Net margin was 15.92%, while return on equity reached 17.68%. Royal Bank Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Reported third-quarter net income rose to approximately C$6.02 billion, or C$4.23 per share, from C$5.41 billion, or C$3.75 per share, a year earlier—an all-time record. Royal Bank of Canada Notches Record Income
• Positive Sentiment: Management credited strength in capital markets and commercial banking for helping drive the results, with RBC described as exceeding expectations and “raising the bar.” RBC Tops Expectations on Strength in Capital Markets and Commercial Banking
• Positive Sentiment: RBC declared a quarterly dividend of C$1.76 per share, equivalent to an annualized yield of roughly 3.4% based on the current share price. Investors of record on October 26 are scheduled to receive payment on November 24.
• Neutral Sentiment: The strong results were part of a broader trend among Canada’s major banks, with RBC, TD and CIBC all surpassing profit estimates. This validates sector strength but may also temper the impact of RBC’s results as investors compare performance across peers. Canada’s RBC, TD and CIBC Top Bank Profit Estimates

Royal Bank Of Canada Stock Performance

Shares of RY opened at $204.63 on Friday. Royal Bank Of Canada has a 1 year low of $143.13 and a 1 year high of $218.57. The company’s 50 day simple moving average is $208.98 and its 200 day simple moving average is $187.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market capitalization of $283.74 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 1.56 and a beta of 0.80.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Thursday, August 27th. The financial services provider reported $3.07 EPS for the quarter, beating the consensus estimate of $2.89 by $0.18. The firm had revenue of $13.22 billion during the quarter, compared to analyst estimates of $12.98 billion. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%. On average, sell-side analysts predict that Royal Bank Of Canada will post 11.59 EPS for the current year.

Royal Bank Of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be paid a dividend of $1.76 per share. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 annualized dividend and a dividend yield of 3.4%. Royal Bank Of Canada’s payout ratio is currently 44.56%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. Keefe, Bruyette & Woods assumed coverage on Royal Bank Of Canada in a research note on Friday, August 21st. They set a “market perform” rating for the company. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 19th. Raymond James Financial cut Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Finally, Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.