Royal Bank Of Canada $RY Holdings Reduced by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. lowered its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 0.6% in the third quarter, HoldingsChannel reports. The fund owned 886,886 shares of the financial services provider’s stock after selling 5,653 shares during the quarter. Royal Bank Of Canada makes up about 4.0% of Cardinal Capital Management Inc.’s portfolio, making the stock its 4th largest position. Cardinal Capital Management Inc.’s holdings in Royal Bank Of Canada were worth $174,907,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. BOK Financial Private Wealth Inc. purchased a new stake in Royal Bank Of Canada in the second quarter valued at approximately $28,000. Highland Investment Advisors LLC purchased a new position in Royal Bank Of Canada during the second quarter worth approximately $31,000. Bell Investment Advisors Inc purchased a new position in Royal Bank Of Canada during the second quarter worth approximately $32,000. Continuum Advisory LLC purchased a new position in Royal Bank Of Canada during the second quarter worth approximately $33,000. Finally, Key Financial Inc boosted its holdings in shares of Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 63 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 28th. TD Securities reissued a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Weiss Ratings upgraded Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, July 29th. Keefe, Bruyette & Woods started coverage on Royal Bank Of Canada in a research note on Friday, August 21st. They set a “market perform” rating for the company. Finally, Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $225.00.

Royal Bank Of Canada Stock Performance

Royal Bank Of Canada stock opened at $197.94 on Friday. The firm has a market capitalization of $273.95 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 1.76 and a beta of 0.80. Royal Bank Of Canada has a one year low of $143.38 and a one year high of $218.57. The stock’s 50 day moving average price is $203.54 and its 200 day moving average price is $196.37. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.81 and a current ratio of 0.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.18. The company had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $12.98 billion. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. As a group, sell-side analysts expect that Royal Bank Of Canada will post 11.83 EPS for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be paid a C$1.76 dividend. The ex-dividend date is Monday, October 26th. This represents a $7.04 annualized dividend and a dividend yield of 3.6%. Royal Bank Of Canada’s dividend payout ratio is 43.39%.

Royal Bank Of Canada Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and serves individuals, businesses, institutional clients and governments.

RBC provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and financial advice. Its wealth management operations offer investment management, brokerage, trust, private banking and financial planning services to individuals, families and institutions.

Through RBC Capital Markets, the company provides investment banking, corporate banking, securities, sales and trading, and financial advisory services.