LONDON (CBSNewYork/AP) — Britain’s newborn princess has been named Charlotte Elizabeth Diana, according to the palace.

The princess is the second child of Prince William and his wife Kate, the Duchess of Cambridge. The baby will be known as Her Royal Highness Princess Charlotte of Cambridge.

Web Extra: Photos Of Royal Princess

The royal princess’ birth comes five moths after William and Kate toured New York City.

At Tea and Sympathy in the West Village, where British ex-pats and lovers of all things British gather to get their tea on, all the buzz was about the name, CBS2’s Scott Rapoport reported.

“So cute and thank God it’s a girl,” said one woman.

Charlotte, the feminine form of Charles, is a nod to the newborn’s grandfather, Prince Charles. The middle names honor Queen Elizabeth II, the infant’s great-grandmother, and the late Princess Diana, William’s mother.

The princess is fourth in line to the throne after Charles, William and her older brother Prince George.

William and Kate introduced the baby princess to the world Saturday evening, just 12 hours after Kate checked into a London hospital to give birth. The baby weighed in at 8 pounds, 3 ounces (3.7 kilograms).

Bookmakers had taken huge amounts of bets on the name, with Alice, Charlotte, Elizabeth, Victoria, Olivia and Diana among the most popular guesses.

Earlier Monday, bells at Westminster Abbey pealed and gun salutes were fired across London in honor of the newborn princess. Dozens of deafening volleys were fired from Hyde Park and the Tower of London.

And as for the next inevitable question of whether the royal couple should go for baby number three and when, Nicky Perry, Tea & Sympathy’s owner, told Rapoport, “Why not do the Brad and Angelina thing and have six, or 10 or 12?”

(TM and © Copyright 2015 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2015 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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