M&T Bank Corp lowered its holdings in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,226 shares of the financial services provider’s stock after selling 2,462 shares during the period. M&T Bank Corp’s holdings in Royal Bank of Canada were worth $2,893,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new position in shares of Royal Bank of Canada during the fourth quarter valued at $38,000. Honkamp Krueger Financial Services Inc. purchased a new position in shares of Royal Bank of Canada during the third quarter valued at $120,000. Huntington National Bank grew its holdings in shares of Royal Bank of Canada by 14.5% during the fourth quarter. Huntington National Bank now owns 1,660 shares of the financial services provider’s stock valued at $114,000 after buying an additional 210 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Royal Bank of Canada during the fourth quarter valued at $120,000. Finally, Advisors Asset Management Inc. grew its holdings in shares of Royal Bank of Canada by 148.4% during the second quarter. Advisors Asset Management Inc. now owns 1,843 shares of the financial services provider’s stock valued at $142,000 after buying an additional 1,101 shares in the last quarter. 40.59% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on the company. Macquarie upgraded Royal Bank of Canada from a “neutral” rating to an “outperform” rating in a report on Wednesday, December 12th. Canaccord Genuity restated a “hold” rating on shares of Royal Bank of Canada in a research note on Thursday, November 22nd. Argus lowered their target price on Royal Bank of Canada to $89.00 and set a “positive” rating on the stock in a research note on Thursday, November 29th. They noted that the move was a valuation call. Scotiabank restated an “average” rating and issued a $115.00 target price on shares of Royal Bank of Canada in a research note on Sunday, December 2nd. Finally, Desjardins restated a “buy” rating on shares of Royal Bank of Canada in a research note on Tuesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Royal Bank of Canada currently has a consensus rating of “Buy” and a consensus target price of $96.67.
Shares of NYSE:RY opened at $76.06 on Monday. Royal Bank of Canada has a fifty-two week low of $65.76 and a fifty-two week high of $81.56. The stock has a market capitalization of $109.19 billion, a price-to-earnings ratio of 11.65, a P/E/G ratio of 2.12 and a beta of 1.11. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.12.
Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, November 28th. The financial services provider reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.10. Royal Bank of Canada had a return on equity of 18.09% and a net margin of 21.60%. The company had revenue of $10.67 billion during the quarter, compared to analysts’ expectations of $11.14 billion. During the same quarter in the previous year, the firm earned $1.88 earnings per share. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, analysts predict that Royal Bank of Canada will post 6.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 22nd. Shareholders of record on Thursday, January 24th will be given a $0.745 dividend. The ex-dividend date of this dividend is Wednesday, January 23rd. This represents a $2.98 dividend on an annualized basis and a dividend yield of 3.92%. Royal Bank of Canada’s dividend payout ratio is currently 43.95%.
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 check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.
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