Leisure Capital Management Has $919,000 Stock Position in Royal Bank of Canada (NYSE:RY)

Leisure Capital Management decreased its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 21.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,087 shares of the financial services provider’s stock after selling 2,409 shares during the period. Leisure Capital Management’s holdings in Royal Bank of Canada were worth $919,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in shares of Royal Bank of Canada during the third quarter valued at $26,000. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Royal Bank of Canada in the third quarter valued at about $34,000. Cullen Frost Bankers Inc. bought a new position in shares of Royal Bank of Canada in the third quarter valued at about $44,000. Addison Advisors LLC raised its holdings in shares of Royal Bank of Canada by 131.0% in the fourth quarter. Addison Advisors LLC now owns 529 shares of the financial services provider’s stock valued at $53,000 after buying an additional 300 shares during the last quarter. Finally, Janiczek Wealth Management LLC raised its holdings 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 valued at $74,000 after buying an additional 197 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on RY. BMO Capital Markets raised Royal Bank of Canada from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $140.00 to $150.00 in a report on Friday, April 5th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Tuesday, February 6th. Jefferies Financial Group assumed coverage on Royal Bank of Canada in a research report on Thursday, February 22nd. They set a “hold” rating for the company. Finally, Barclays assumed coverage on Royal Bank of Canada in a research report on Wednesday, March 20th. They set an “equal weight” rating for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $137.67.

Royal Bank of Canada Stock Up 0.5 %

Shares of RY traded up $0.48 on Friday, hitting $98.16. The company’s stock had a trading volume of 502,507 shares, compared to its average volume of 1,261,320. 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 firm’s fifty day moving average price is $99.11 and its 200-day moving average price is $94.73. Royal Bank of Canada has a fifty-two week low of $77.90 and a fifty-two week high of $103.88. The firm has a market capitalization of $138.87 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 1.68 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $9.98 billion during the quarter, compared to analyst estimates of $10.10 billion. On average, equities research analysts expect that Royal Bank of Canada will post 8.45 EPS for the current year.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Thursday, April 25th will be paid a $1.0207 dividend. 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. This represents a $4.08 annualized dividend and a yield of 4.16%. Royal Bank of Canada’s payout ratio is presently 25.31%.

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.