Country Club Bank Decreases Holdings in Royal Bank of Canada (NYSE:RY)

Country Club Bank lowered its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 21.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 50,687 shares of the financial services provider’s stock after selling 13,705 shares during the quarter. Country Club Bank’s holdings in Royal Bank of Canada were worth $6,298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ridgewood Investments LLC acquired a new position in Royal Bank of Canada in the second quarter valued at approximately $27,000. Grove Bank & Trust purchased a new stake in shares of Royal Bank of Canada during the 3rd quarter worth approximately $28,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of 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 valued at $28,000 after buying an additional 118 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in shares of Royal Bank of Canada in the 2nd quarter valued at $33,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Royal Bank of Canada by 293.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 508 shares of the financial services provider’s stock valued at $54,000 after buying an additional 379 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Trading Down 0.9 %

Shares of RY stock opened at $122.47 on Friday. The company has a market capitalization of $173.30 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 2.05 and a beta of 0.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $121.75 and its two-hundred day moving average is $111.17. Royal Bank of Canada has a twelve month low of $77.90 and a twelve month high of $126.96.

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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. The firm had revenue of $10.68 billion for 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%. Equities analysts forecast that Royal Bank of Canada will post 8.91 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be paid a dividend of $1.028 per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.36%. Royal Bank of Canada’s dividend payout ratio (DPR) is 51.99%.

Wall Street Analysts Forecast Growth

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

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.