Westover Capital Advisors adds Royal Bank of Canada (RY) to its portfolio

Royal Bank of Canada (RY) : Westover Capital Advisors added new position in Royal Bank of Canada during the most recent quarter end. The investment management firm now holds 57,995 shares of Royal Bank of Canada which is valued at $3.4 Million , the company said in a statement filed on May 13, 2016 with the SEC.Royal Bank of Canada makes up approximately 2.97% of Westover Capital Advisors’s portfolio.

Other Hedge Funds, Including , Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in RY by selling 115,199 shares or 14.19% in the most recent quarter. The Hedge Fund company now holds 696,603 shares of RY which is valued at $41.4 Million. Royal Bank of Canada makes up approx 0.53% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.Taylor Asset Management Inc boosted its stake in RY in the latest quarter, The investment management firm added 125,900 additional shares and now holds a total of 268,700 shares of Royal Bank of Canada which is valued at $16 Million. Royal Bank of Canada makes up approx 4.10% of Taylor Asset Management Inc’s portfolio. Huntington Asset Advisors sold out all of its stake in RY during the most recent quarter. The investment firm sold 35,000 shares of RY which is valued $2.1 Million.Argent Trust Co boosted its stake in RY in the latest quarter, The investment management firm added 82 additional shares and now holds a total of 8,953 shares of Royal Bank of Canada which is valued at $531,540. Royal Bank of Canada makes up approx 0.26% of Argent Trust Co’s portfolio.

Royal Bank of Canada opened for trading at $60.12 and hit $61.17 on the upside on Wednesday, eventually ending the session at $60.89, with a gain of 1.93% or 1.15 points. The heightened volatility saw the trading volume jump to 11,80,747 shares. Company has a market cap of $90,526 M.

On the company’s financial health, Royal Bank of Canada reported $1.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 26, 2016. Analyst had a consensus of $1.64. The company had revenue of $9526.00 million for the quarter, compared to analysts expectations of $9510.53 million. The company’s revenue was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 EPS.

Many Wall Street Analysts have commented on Royal Bank of Canada. Royal Bank of Canada was Downgraded by TD Securities to ” Hold” on Mar 1, 2016.

Royal Bank of Canada (RBC) is a diversified financial services company. The Company provides personal and commercial banking wealth management services insurance investor services and capital markets products and services on a global basis. It operates in five segments: Personal & Commercial Banking which operates comprises its personal and business banking operations as well as its auto financing and retail investment businesses; Wealth Management which comprises Canadian Wealth Management United States and International Wealth Management and Global Asset Management (GAM); Insurance which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services which is a provider of asset servicing custody payments and treasury services and Capital Markets which comprises two business lines: Corporate and Investment Banking and Global Markets. It operates in three geographic segments: Canada United States and Other International.

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