Bank of Nova Scotia Trust Co. Has $84.06 Million Stock Position in Royal Bank Of Canada $RY

Bank of Nova Scotia Trust Co. cut its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 1.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 638,994 shares of the financial services provider’s stock after selling 9,626 shares during the period. Royal Bank Of Canada makes up about 8.3% of Bank of Nova Scotia Trust Co.’s holdings, making the stock its biggest position. Bank of Nova Scotia Trust Co.’s holdings in Royal Bank Of Canada were worth $84,060,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RY. Caitong International Asset Management Co. Ltd acquired a new stake in Royal Bank Of Canada during the 1st quarter worth about $32,000. Roxbury Financial LLC raised its holdings in shares of Royal Bank Of Canada by 44.3% during the second quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 104 shares during the period. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Royal Bank Of Canada by 2,170.0% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 454 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 434 shares during the period. Financial Management Professionals Inc. lifted its position in shares of Royal Bank Of Canada by 29.2% in the 2nd quarter. Financial Management Professionals Inc. now owns 434 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 98 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new position in Royal Bank Of Canada in the 1st quarter worth approximately $59,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

RY has been the subject of a number of research analyst reports. CIBC lowered Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a report on Friday, September 5th. Cibc World Mkts downgraded Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 5th. National Bankshares restated a “sector perform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Wednesday, October 8th. Finally, Erste Group Bank raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Monday, September 22nd. Eight investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $177.50.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $153.14 on Friday. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $153.26. The stock’s 50-day moving average is $147.23 and its two-hundred day moving average is $137.93. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $214.50 billion, a P/E ratio of 16.17, a PEG ratio of 1.48 and a beta of 0.86.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, beating the consensus estimate of $2.36 by $0.43. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The business had revenue of $12.26 billion during the quarter, compared to analysts’ expectations of $16.03 billion. During the same quarter in the previous year, the business posted $3.26 EPS. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year. Analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

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.