Magnolia Capital Management Ltd. Has $504,000 Stake in Royal Bank of Canada (NYSE:RY)

Magnolia Capital Management Ltd. increased its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 24.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,180 shares of the financial services provider’s stock after purchasing an additional 810 shares during the quarter. Magnolia Capital Management Ltd.’s holdings in Royal Bank of Canada were worth $504,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of Royal Bank of Canada in the third quarter worth $25,000. Dunhill Financial LLC acquired a new position in Royal Bank of Canada during the third quarter worth about $25,000. Larson Financial Group LLC bought a new position in shares of Royal Bank of Canada in the third quarter worth about $26,000. Grove Bank & Trust acquired a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $28,000. Finally, Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Royal Bank of Canada by 110.3% during 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 during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Royal Bank of Canada Price Performance

RY stock opened at $119.64 on Thursday. The company has a market capitalization of $169.13 billion, a P/E ratio of 14.48, a PEG ratio of 1.77 and a beta of 0.87. The company has a fifty day moving average price of $122.81 and a 200-day moving average price of $119.21. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. 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 business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be given a dividend of $1.0522 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 50.85%.

Royal Bank of Canada 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.