Fifth Third Bancorp Grows Stock Holdings in Royal Bank of Canada (NYSE:RY)

Fifth Third Bancorp grew its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 46.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,712 shares of the financial services provider’s stock after buying an additional 1,500 shares during the period. Fifth Third Bancorp’s holdings in Royal Bank of Canada were worth $568,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Sachetta LLC bought a new position in shares of Royal Bank of Canada during the 4th quarter valued at approximately $47,000. LexAurum Advisors LLC boosted its stake in Royal Bank of Canada by 24.2% during the fourth quarter. LexAurum Advisors LLC now owns 2,422 shares of the financial services provider’s stock worth $292,000 after buying an additional 472 shares during the period. Brighton Jones LLC increased its position in Royal Bank of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 575 shares during the last quarter. Phoenix Wealth Advisors purchased a new stake in shares of Royal Bank of Canada in the fourth quarter valued at $261,000. Finally, Verum Partners LLC bought a new stake in shares of Royal Bank of Canada in the 4th quarter worth about $2,353,000. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Trading Up 1.1 %

RY opened at $123.36 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average is $122.47 and its two-hundred day moving average is $120.08. The company has a market capitalization of $174.47 billion, a P/E ratio of 14.93, a PEG ratio of 1.81 and a beta of 0.87. Royal Bank of Canada has a 52 week low of $93.97 and a 52 week high of $128.05.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be issued a $1.0522 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s payout ratio is presently 49.76%.

Wall Street Analyst Weigh In

RY has been the topic of several analyst reports. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. BMO Capital Markets reduced their price target on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Company Profile

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.