First Citizens Bank & Trust Co. Sells 1,034 Shares of Royal Bank of Canada (NYSE:RY)

First Citizens Bank & Trust Co. trimmed its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,750 shares of the financial services provider’s stock after selling 1,034 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Royal Bank of Canada were worth $1,054,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RY. 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 in the 3rd quarter worth approximately $25,000. Larson Financial Group LLC purchased a new stake in Royal Bank of Canada in the 3rd quarter worth approximately $26,000. Grove Bank & Trust purchased a new stake in Royal Bank of Canada in the 3rd quarter worth approximately $28,000. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in 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 worth $28,000 after acquiring an additional 118 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Up 0.4 %

NYSE RY opened at $122.62 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $173.43 billion, a P/E ratio of 14.85, a P/E/G ratio of 1.81 and a beta of 0.87. Royal Bank of Canada has a one year low of $93.97 and a one year high of $128.05. The stock has a 50 day moving average price of $122.47 and a 200-day moving average price of $119.84.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio is currently 49.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. BMO Capital Markets cut their price objective on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada 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.