Royal Bank Of Canada $RY Stock Sold by Sterling Capital Management LLC

Sterling Capital Management LLC cut its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 34.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,672 shares of the financial services provider’s stock after selling 4,626 shares during the quarter. Sterling Capital Management LLC’s holdings in Royal Bank Of Canada were worth $1,710,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Roxbury Financial LLC lifted its stake in Royal Bank Of Canada by 12.8% in the third quarter. Roxbury Financial LLC now owns 501 shares of the financial services provider’s stock valued at $98,000 after buying an additional 57 shares during the last quarter. Echo45 Advisors LLC boosted its holdings in shares of Royal Bank Of Canada by 5.0% in the third quarter. Echo45 Advisors LLC now owns 1,308 shares of the financial services provider’s stock valued at $257,000 after acquiring an additional 62 shares during the period. Key Financial Inc boosted its holdings in shares of Royal Bank Of Canada by 63.0% in the first quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 63 shares during the period. Apella Capital LLC grew its position in shares of Royal Bank Of Canada by 3.1% during the second quarter. Apella Capital LLC now owns 2,155 shares of the financial services provider’s stock worth $451,000 after acquiring an additional 64 shares during the last quarter. Finally, Cornerstone Financial Management LLC grew its position in shares of Royal Bank Of Canada by 45.2% during the second quarter. Cornerstone Financial Management LLC now owns 212 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 66 shares during the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on RY. Scotiabank reiterated 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. Keefe, Bruyette & Woods assumed coverage on shares of Royal Bank Of Canada in a research note on Friday, August 21st. They issued a “market perform” rating on the stock. Weiss Ratings raised shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Royal Bank Of Canada has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Trading Up 0.8%

NYSE:RY opened at $202.77 on Tuesday. The firm has a market cap of $280.62 billion, a P/E ratio of 17.74, a PEG ratio of 1.80 and a beta of 0.80. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The stock’s 50 day simple moving average is $202.35 and its 200-day simple moving average is $188.27. Royal Bank Of Canada has a 12-month low of $143.38 and a 12-month high of $218.57.

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

Royal Bank Of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be given a dividend of C$1.76 per share. The ex-dividend date is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio is presently 43.39%.

Royal Bank Of Canada Company 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 provides banking, wealth management, capital markets, insurance and investor services to individuals, businesses, institutions and governments.

RBC’s personal and commercial banking operations offer deposit accounts, lending, mortgages, credit cards, payment services and financial advice. Its wealth management business provides investment management, private banking, trust, brokerage and advisory services, while RBC Capital Markets delivers investment banking, sales and trading, research and corporate finance services.