Royal Bank of Canada (NYSE:RY) Shares Sold by AMG National Trust Bank

AMG National Trust Bank lowered its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 25.3% in the third quarter, HoldingsChannel reports. The firm owned 16,616 shares of the financial services provider’s stock after selling 5,618 shares during the quarter. AMG National Trust Bank’s holdings in Royal Bank of Canada were worth $2,073,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Addison Advisors LLC boosted its position in Royal Bank of Canada by 9.5% in the 3rd quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock valued at $118,000 after buying an additional 82 shares during the period. Mount Yale Investment Advisors LLC increased its holdings in Royal Bank of Canada by 1.6% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock worth $619,000 after purchasing an additional 92 shares during the period. Private Advisor Group LLC raised its position in Royal Bank of Canada by 1.6% in the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after purchasing an additional 95 shares in the last quarter. Shell Asset Management Co. boosted its stake in shares of Royal Bank of Canada by 3.8% in the 1st quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock valued at $274,000 after buying an additional 100 shares during the period. Finally, HB Wealth Management LLC grew its position in shares of Royal Bank of Canada by 1.9% during the second quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider’s stock worth $562,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

RY stock opened at $122.45 on Tuesday. The stock has a market cap of $173.10 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.86 and a beta of 0.86. Royal Bank of Canada has a fifty-two week low of $85.02 and a fifty-two week high of $126.96. 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 business has a 50 day moving average price of $123.36 and a 200 day moving average price of $114.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.23. The business had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. Equities research analysts anticipate that Royal Bank of Canada will post 8.88 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be paid a $1.028 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 annualized dividend and a yield of 3.36%. Royal Bank of Canada’s dividend payout ratio is presently 50.79%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday. BMO Capital Markets lifted 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and an average target price of $142.50.

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.