AMG National Trust Bank Sells 122 Shares of Royal Bank of Canada (NYSE:RY)

AMG National Trust Bank trimmed its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,494 shares of the financial services provider’s stock after selling 122 shares during the quarter. AMG National Trust Bank’s holdings in Royal Bank of Canada were worth $1,988,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Dunhill Financial LLC bought a new position in Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Larson Financial Group LLC bought a new position in Royal Bank of Canada in the 3rd quarter worth approximately $26,000. Roxbury Financial LLC bought a new position in Royal Bank of Canada in the 4th quarter worth approximately $29,000. Finally, Jackson Grant Investment Advisers Inc. bought a new position in Royal Bank of Canada in the 4th quarter worth approximately $36,000. 45.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on RY. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. BMO Capital Markets lowered their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday, February 28th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Up 0.7 %

Shares of RY opened at $115.07 on Friday. The company has a market cap of $162.74 billion, a PE ratio of 13.93, a P/E/G ratio of 1.80 and a beta of 0.88. The business has a fifty day moving average of $119.55 and a 200 day moving average of $121.59. Royal Bank of Canada has a 52-week low of $95.84 and a 52-week high of $128.05. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a $1.0251 dividend. The ex-dividend date is Thursday, April 24th. This represents a $4.10 dividend on an annualized basis and a yield of 3.56%. Royal Bank of Canada’s dividend payout ratio is presently 45.96%.

Royal Bank of Canada Company 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.