Royal Bank of Canada (NYSE:RY) Stock Holdings Raised by Cardinal Capital Management

Cardinal Capital Management lifted its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 38,351 shares of the financial services provider’s stock after buying an additional 184 shares during the quarter. Cardinal Capital Management’s holdings in Royal Bank of Canada were worth $4,784,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of Royal Bank of Canada in the 4th quarter worth approximately $276,000. Mather Group LLC. acquired a new position in Royal Bank of Canada in the first quarter worth $49,000. KMG Fiduciary Partners LLC increased its stake in Royal Bank of Canada by 3.8% during the first quarter. KMG Fiduciary Partners LLC now owns 14,979 shares of the financial services provider’s stock valued at $1,511,000 after purchasing an additional 543 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Royal Bank of Canada by 10.3% during the first quarter. Park Avenue Securities LLC now owns 2,769 shares of the financial services provider’s stock worth $279,000 after purchasing an additional 259 shares during the period. Finally, Gulf International Bank UK Ltd boosted its holdings in shares of Royal Bank of Canada by 5.0% in the 1st quarter. Gulf International Bank UK Ltd now owns 9,056 shares of the financial services provider’s stock valued at $913,000 after buying an additional 434 shares during the period. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RY has been the topic of a number of recent research reports. UBS Group started coverage on Royal Bank of Canada in a research note on Tuesday, July 2nd. They issued a “buy” rating on the stock. BMO Capital Markets boosted their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Trading Up 0.3 %

Shares of NYSE RY opened at $126.51 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $126.96. The company has a market cap of $179.02 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 2.02 and a beta of 0.86. The business has a fifty day simple moving average of $120.00 and a 200-day simple moving average of $110.20.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. The company had revenue of $10.68 billion during the quarter, compared to analyst estimates of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. Sell-side analysts predict that Royal Bank of Canada will post 8.91 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be paid a $1.028 dividend. This represents a $4.11 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is 51.99%.

About Royal Bank of Canada

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.