Royal Bank of Canada (NYSE:RY) Shares Sold by Whitener Capital Management Inc.

Whitener Capital Management Inc. lowered its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 22,864 shares of the financial services provider’s stock after selling 485 shares during the quarter. Whitener Capital Management Inc.’s holdings in Royal Bank of Canada were worth $2,852,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in RY. Whittier Trust Co. of Nevada Inc. increased its stake in Royal Bank of Canada by 110.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after buying an additional 118 shares in the last quarter. Grove Bank & Trust purchased a new stake in shares of Royal Bank of Canada during the third quarter worth approximately $28,000. Ridgewood Investments LLC acquired a new position in Royal Bank of Canada in the 2nd quarter valued at $27,000. Ashton Thomas Private Wealth LLC purchased a new position in Royal Bank of Canada in the 2nd quarter valued at $33,000. Finally, Eastern Bank purchased a new position in Royal Bank of Canada in the 3rd quarter valued at $59,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Stock Up 0.7 %

Shares of RY opened at $121.79 on Friday. The stock has a fifty day simple moving average of $122.68 and a two-hundred day simple moving average of $112.07. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $172.17 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.98 and a beta of 0.86. Royal Bank of Canada has a 52-week low of $80.96 and a 52-week high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.23. The firm had revenue of $10.68 billion during the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. As a group, equities analysts forecast that Royal Bank of Canada will post 8.91 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be issued a $1.028 dividend. This represents a $4.11 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is presently 50.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets upped their target price on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. StockNews.com cut shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, July 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $142.50.

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.