RFG Advisory LLC Lowers Holdings in Royal Bank of Canada (NYSE:RY) - BBNS
Other institutional investors and hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada during the third quarter worth $25,000. Larson Financial Group LLC acquired a new stake in Royal Bank of Canada during the third quarter valued at $26,000. Grove Bank & Trust purchased a new position in Royal Bank of Canada in the third quarter valued at $28,000. Finally, Whittier Trust Co. of Nevada Inc. raised its position in shares of Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 118 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.
A number of equities research analysts have recently commented on RY shares. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. BMO Capital Markets decreased their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, December 5th. Finally, StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.
View Our Latest Report on Royal Bank of Canada
Shares of RY opened at $122.62 on Friday. The firm’s fifty day moving average is $122.47 and its two-hundred day moving average is $119.77. The stock has a market cap of $173.43 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 1.81 and a beta of 0.87. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 52-week low of $93.97 and a 52-week high of $128.05.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be issued a $1.0522 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a yield of 3.43%. Royal Bank of Canada’s dividend payout ratio is presently 50.85%.
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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