Basswood Capital Management L.L.C. Makes New Investment in Royal Bank of Canada (NYSE:RY)

Basswood Capital Management L.L.C. acquired a new position in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 28,335 shares of the financial services provider's stock, valued at approximately $3,536,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RY. Capital Performance Advisors LLP bought a new position in Royal Bank of Canada during the third quarter valued at approximately $25,000. Larson Financial Group LLC bought a new position in Royal Bank of Canada during the third quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new position in Royal Bank of Canada during the second quarter valued at approximately $27,000. Grove Bank & Trust bought a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $28,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 118 shares during the last quarter. 45.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RY. BMO Capital Markets raised their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, August 29th. Barclays raised Royal Bank of Canada from an "equal weight" rating to an "overweight" rating in a research note on Thursday, November 21st. Finally, TD Securities lowered Royal Bank of Canada from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $142.50.

Royal Bank of Canada Trading Down 0.5 %

Shares of NYSE RY traded down $0.65 during midday trading on Monday, hitting $125.02. The company's stock had a trading volume of 343,492 shares, compared to its average volume of 1,087,865. The business's 50 day moving average is $123.61 and its two-hundred day moving average is $115.48. The firm has a market cap of $176.74 billion, a P/E ratio of 15.03, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. Royal Bank of Canada has a 12-month low of $90.21 and a 12-month high of $126.96. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada Company Profile

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.