AMG National Trust Bank Sells 5,618 Shares of Royal Bank of Canada (NYSE:RY)

AMG National Trust Bank reduced its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 25.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,616 shares of the financial services provider's stock after selling 5,618 shares during the period. AMG National Trust Bank's holdings in Royal Bank of Canada were worth $2,073,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Addison Advisors LLC raised its holdings in Royal Bank of Canada by 9.5% in the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider's stock valued at $118,000 after acquiring an additional 82 shares in the last quarter. Mount Yale Investment Advisors LLC raised its stake in shares of Royal Bank of Canada by 1.6% in the second quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider's stock valued at $619,000 after purchasing an additional 92 shares in the last quarter. Private Advisor Group LLC lifted its position in Royal Bank of Canada by 1.6% in the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider's stock worth $768,000 after purchasing an additional 95 shares during the period. Shell Asset Management Co. boosted its stake in Royal Bank of Canada by 3.8% during the first 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. Finally, HB Wealth Management LLC increased its holdings in 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 valued at $562,000 after buying an additional 100 shares during the period. 45.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on RY. TD Securities lowered shares of Royal Bank of Canada from a "buy" rating to a "hold" rating in a research report on Friday. BMO Capital Markets lifted their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $142.50.

Royal Bank of Canada Price Performance

Shares of RY traded up $0.17 on Tuesday, hitting $122.60. The company's stock had a trading volume of 194,436 shares, compared to its average volume of 1,101,819. The company has a market capitalization of $173.32 billion, a PE ratio of 14.80, a PEG ratio of 1.86 and a beta of 0.86. Royal Bank of Canada has a fifty-two week low of $85.02 and a fifty-two week high of $126.96. The company has a 50 day moving average price of $123.36 and a 200 day moving average price of $114.12. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.23. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. The company had revenue of $10.68 billion during the quarter, compared to analyst estimates of $10.40 billion. On average, research analysts anticipate that Royal Bank of Canada will post 8.88 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be issued a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada's dividend payout ratio is 50.67%.

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.