BNP Paribas Financial Markets Has $159,000 Stake in Royal Bank of Canada (NYSE:RY)

BNP Paribas Financial Markets increased its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 38.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,276 shares of the financial services provider’s stock after purchasing an additional 356 shares during the quarter. BNP Paribas Financial Markets’ holdings in Royal Bank of Canada were worth $159,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new position in shares of Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Larson Financial Group LLC bought a new stake in Royal Bank of Canada in the third quarter valued at $26,000. Ridgewood Investments LLC acquired a new position in Royal Bank of Canada during the second quarter worth $27,000. Grove Bank & Trust bought a new position in shares of Royal Bank of Canada during the third quarter valued at $28,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RY shares. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets cut their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $156.50.

Royal Bank of Canada Stock Performance

Shares of NYSE:RY opened at $123.71 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 1-year low of $93.97 and a 1-year high of $128.05. The stock has a market capitalization of $174.88 billion, a P/E ratio of 14.98, a P/E/G ratio of 1.86 and a beta of 0.86. The business has a 50-day moving average price of $124.15 and a two-hundred day moving average price of $117.12.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be paid a dividend of $1.0522 per share. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.40%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s payout ratio is 52.91%.

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.