Bank of New York Mellon Corp Has $196.99 Million Stock Holdings in Royal Bank Of Canada $RY

Bank of New York Mellon Corp trimmed its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,337,132 shares of the financial services provider’s stock after selling 8,783 shares during the quarter. Bank of New York Mellon Corp owned about 0.10% of Royal Bank Of Canada worth $196,986,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of RY. Toth Financial Advisory Corp bought a new stake in Royal Bank Of Canada during the third quarter valued at about $29,000. True Wealth Design LLC bought a new stake in Royal Bank Of Canada during the 3rd quarter valued at approximately $31,000. CoreCap Advisors LLC grew its holdings in Royal Bank Of Canada by 103.8% in the 3rd quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock valued at $40,000 after buying an additional 138 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Royal Bank Of Canada by 86.5% in the 2nd quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock worth $50,000 after buying an additional 180 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in shares of Royal Bank Of Canada during the second quarter worth approximately $51,000. 45.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. Natl Bk Canada upgraded shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. TD Securities raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Jefferies Financial Group downgraded Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Zacks Research upgraded Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Trading Down 1.5%

Shares of Royal Bank Of Canada stock opened at $166.22 on Friday. The stock has a market capitalization of $232.29 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 1.20 and a beta of 0.79. The company has a 50-day simple moving average of $165.94 and a 200 day simple moving average of $150.35. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $174.61.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.51 by $0.25. Royal Bank Of Canada had a return on equity of 16.83% and a net margin of 14.83%.The company had revenue of $12.27 billion during the quarter, compared to analyst estimates of $12.12 billion. During the same period last year, the company posted $3.07 earnings per share. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. Research analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be issued a dividend of $1.64 per share. This represents a $6.56 dividend on an annualized basis and a yield of 3.9%. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. The ex-dividend date is Monday, January 26th. Royal Bank Of Canada’s dividend payout ratio (DPR) is 47.66%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.