Royal Bank Of Canada $RY Shares Sold by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC trimmed its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 2.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 199,081 shares of the financial services provider’s stock after selling 4,238 shares during the period. Royal Bank Of Canada comprises about 2.1% of Cardinal Point Capital Management ULC’s investment portfolio, making the stock its 11th largest position. Cardinal Point Capital Management ULC’s holdings in Royal Bank Of Canada were worth $29,334,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of RY. Toth Financial Advisory Corp purchased a new position in shares of Royal Bank Of Canada during the third quarter valued at approximately $29,000. True Wealth Design LLC purchased a new position in shares of Royal Bank Of Canada during the 3rd quarter worth $31,000. Atlantic Union Bankshares Corp acquired a new stake in shares of Royal Bank Of Canada during the third quarter worth $38,000. CoreCap Advisors LLC grew its position in shares of Royal Bank Of Canada by 103.8% in the third quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 138 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Royal Bank Of Canada by 86.5% in the second quarter. Smartleaf Asset Management LLC now owns 388 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 180 shares during the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RY has been the topic of a number of research analyst reports. National Bankshares reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, December 4th. UBS Group reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Tuesday, November 25th. Raymond James Financial started coverage on shares of Royal Bank Of Canada in a report on Monday, November 24th. They issued a “moderate buy” rating for the company. TD Securities raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Finally, Zacks Research cut shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and a consensus target price of $162.00.

Royal Bank Of Canada Price Performance

Royal Bank Of Canada stock opened at $170.32 on Monday. Royal Bank Of Canada has a 52-week low of $106.10 and a 52-week high of $174.61. The firm has a fifty day moving average of $167.64 and a 200-day moving average of $151.90. The firm has a market capitalization of $238.03 billion, a P/E ratio of 16.98, a PEG ratio of 1.22 and a beta of 0.79. 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 (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.25. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. The business had revenue of $12.27 billion for the quarter, compared to analyst estimates of $12.12 billion. During the same quarter in the previous year, the business posted $3.07 EPS. The business’s quarterly revenue was up 14.2% on a year-over-year basis. As a group, analysts predict that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Stockholders of record on Monday, January 26th will be paid a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend 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 payout ratio 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.