Bank of America Boosts RY Stock Amid Ongoing Institutional Interest

Royal Bank of Canada (RY) stock has seen a modest gain in trading, settling at C$284.55 after reaching a high of C$284.07.

This comes as Bank of America acquired over 1.2 million shares for $251.25 million in the second quarter, demonstrating continued institutional interest and bolstering investor confidence.

RY has maintained a record of increasing its dividend for 16 consecutive years, with a payout ratio target of 40% to 50%, reinforcing its appeal to income-focused investors.

The bank's current preference for organic growth over acquisitions limits execution risk while supporting steady business expansion.