Bank of America Increases Stake in Royal Bank Of Canada

Bank of America Corp DE increased its stake in Royal Bank Of Canada (RY) by purchasing an additional 71,948 shares during the first quarter. The institutional investor now owns 2,066,234 shares of RY's stock after a 3.6% increase from the previous quarter.

The total value of the investment is approximately $334,275,000, representing about 0.15% of Royal Bank Of Canada's outstanding shares. This purchase was part of a broader trend among institutional investors, with many other funds increasing their stakes in RY during the same period.

Other notable investors that raised their positions in Royal Bank Of Canada include Florida Trust Wealth Management Co and Echo45 Advisors LLC.

The company reported its earnings results on May 28th, surpassing analysts' estimates with a quarterly EPS of $2.84. The revenue for the quarter was up 11.4% compared to the same period last year, reaching $12.84 billion.