Royal Bank Of Canada $RY Shares Sold by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. lowered its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 0.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 886,886 shares of the financial services provider’s stock after selling 5,653 shares during the quarter. Royal Bank Of Canada accounts for about 4.0% of Cardinal Capital Management Inc.’s holdings, making the stock its 4th biggest position. Cardinal Capital Management Inc. owned about 0.06% of Royal Bank Of Canada worth $174,907,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RY. Financial & Tax Architects LLC boosted its stake in shares of Royal Bank Of Canada by 14.1% during the 3rd quarter. Financial & Tax Architects LLC now owns 3,455 shares of the financial services provider’s stock worth $679,000 after acquiring an additional 428 shares in the last quarter. Triasima Portfolio Management inc. grew its holdings in shares of Royal Bank Of Canada by 4.2% in the 3rd quarter. Triasima Portfolio Management inc. now owns 265,763 shares of the financial services provider’s stock worth $52,402,000 after acquiring an additional 10,694 shares during the period. GK Wealth Management LLC purchased a new position in Royal Bank Of Canada in the 3rd quarter valued at approximately $100,000. Balefire LLC increased its stake in Royal Bank Of Canada by 10.5% in the 3rd quarter. Balefire LLC now owns 1,624 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 154 shares in the last quarter. Finally, Riversedge Advisors LLC increased its stake in Royal Bank Of Canada by 3.0% in the 3rd quarter. Riversedge Advisors LLC now owns 2,996 shares of the financial services provider’s stock valued at $589,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank Of Canada Price Performance

Royal Bank Of Canada stock opened at $197.94 on Friday. The stock has a market capitalization of $273.95 billion, a P/E ratio of 16.94, a P/E/G ratio of 1.76 and a beta of 0.80. Royal Bank Of Canada has a 12-month low of $143.38 and a 12-month high of $218.57. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s 50-day moving average is $203.54 and its two-hundred day moving average is $196.37.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.18. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. The business had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $12.98 billion. Equities analysts predict that Royal Bank Of Canada will post 11.83 earnings per share for the current year.

Royal Bank Of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be issued a C$1.76 dividend. The ex-dividend date is Monday, October 26th. This represents a $7.04 annualized dividend and a yield of 3.6%. Royal Bank Of Canada’s payout ratio is 43.39%.

Analysts Set New Price Targets

A number of analysts have commented on RY shares. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Friday, August 21st. TD Securities restated a “buy” rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Keefe, Bruyette & Woods initiated coverage on Royal Bank Of Canada in a research note on Friday, August 21st. They set a “market perform” rating for the company. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. Finally, Weiss Ratings upgraded shares of Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.00.

Royal Bank Of Canada Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and serves individuals, businesses, institutional clients and governments.

RBC provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and financial advice. Its wealth management operations offer investment management, brokerage, trust, private banking and financial planning services to individuals, families and institutions.

Through RBC Capital Markets, the company provides investment banking, corporate banking, securities, sales and trading, and financial advisory services.