Moors & Cabot Inc. Trims Holdings in Royal Bank of Canada (NYSE:RY)

Moors & Cabot Inc. trimmed its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,493 shares of the financial services provider’s stock after selling 198 shares during the period. Moors & Cabot Inc.’s holdings in Royal Bank of Canada were worth $1,184,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Royal Bank of Canada in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC acquired a new position in shares of Royal Bank of Canada during the 2nd quarter valued at about $27,000. Grove Bank & Trust purchased a new stake in shares of Royal Bank of Canada in the 3rd quarter valued at approximately $28,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of 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 purchasing an additional 118 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Royal Bank of Canada during the second quarter worth about $33,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

RY has been the subject of several research reports. Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, BMO Capital Markets raised their price objective on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $125.09 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The business’s fifty day moving average price is $123.36 and its two-hundred day moving average price is $114.40. The firm has a market capitalization of $176.84 billion, a PE ratio of 15.13, a P/E/G ratio of 1.88 and a beta of 0.86. Royal Bank of Canada has a 1-year low of $85.02 and a 1-year high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The company had revenue of $10.68 billion during the quarter, compared to analyst estimates of $10.40 billion. On average, research analysts expect that Royal Bank of Canada will post 8.88 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 3.29%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is presently 50.79%.

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.