Balentine LLC bought a new position in shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,430 shares of the financial services provider's stock, valued at approximately $677,000.
A number of other large investors also recently modified their holdings of the company. Mount Yale Investment Advisors LLC grew its stake in shares of Royal Bank of Canada by 1.6% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider's stock worth $619,000 after acquiring an additional 92 shares in the last quarter. Private Advisor Group LLC increased its stake in Royal Bank of Canada by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider's stock valued at $768,000 after buying an additional 95 shares during the last quarter. Shell Asset Management Co. lifted its position in shares of Royal Bank of Canada by 3.8% during the 1st quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider's stock worth $274,000 after buying an additional 100 shares in the last quarter. HB Wealth Management LLC boosted its stake in shares of Royal Bank of Canada by 1.9% in the 2nd quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider's stock worth $562,000 after buying an additional 100 shares during the last quarter. Finally, Leisure Capital Management grew its holdings in shares of Royal Bank of Canada by 1.1% in the third quarter. Leisure Capital Management now owns 9,366 shares of the financial services provider's stock valued at $1,168,000 after acquiring an additional 100 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several research analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, August 29th. StockNews.com lowered Royal Bank of Canada from a "hold" rating to a "sell" rating in a report on Saturday, July 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $142.50.
View Our Latest Research Report on Royal Bank of Canada
Royal Bank of Canada Stock Performance
RY stock traded down $0.43 during midday trading on Wednesday, reaching $122.72. 1,111,410 shares of the company's stock traded hands, compared to its average volume of 1,079,093. Royal Bank of Canada has a 52 week low of $83.57 and a 52 week high of $126.96. The company has a 50-day moving average price of $123.03 and a two-hundred day moving average price of $112.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $173.49 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.87 and a beta of 0.86.
Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, topping the consensus estimate of $2.15 by $0.23. The business had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. As a group, equities analysts anticipate that Royal Bank of Canada will post 8.88 EPS for the current year.
Royal Bank of Canada Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada's dividend payout ratio (DPR) is currently 50.67%.
About Royal Bank of Canada
(
Free Report)
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.
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