Tower Research Capital LLC TRC Acquires 25,421 Shares of Royal Bank of Canada (NYSE:RY)

Tower Research Capital LLC TRC lifted its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 556.4% in the third quarter, Holdings Channel reports. The fund owned 29,990 shares of the financial services provider’s stock after purchasing an additional 25,421 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Royal Bank of Canada were worth $2,434,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Leisure Capital Management lifted its stake in Royal Bank of Canada by 1.6% in the second quarter. Leisure Capital Management now owns 8,362 shares of the financial services provider’s stock worth $664,000 after purchasing an additional 132 shares during the last quarter. Nwam LLC lifted its stake in Royal Bank of Canada by 3.0% in the third quarter. Nwam LLC now owns 5,221 shares of the financial services provider’s stock worth $424,000 after purchasing an additional 150 shares during the last quarter. MML Investors Services LLC lifted its stake in Royal Bank of Canada by 4.2% in the second quarter. MML Investors Services LLC now owns 4,132 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 167 shares during the last quarter. Winslow Evans & Crocker Inc. lifted its stake in Royal Bank of Canada by 34.3% in the second quarter. Winslow Evans & Crocker Inc. now owns 806 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 206 shares during the last quarter. Finally, Landsberg Bennett & Dubbaneh LLC lifted its stake in Royal Bank of Canada by 6.4% in the second quarter. Landsberg Bennett & Dubbaneh LLC now owns 3,458 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 207 shares during the last quarter. 41.24% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have issued reports on RY. ValuEngine downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Scotiabank reissued a “buy” rating on shares of Royal Bank of Canada in a research note on Tuesday, August 20th. Zacks Investment Research downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Barclays reissued a “sell” rating on shares of Royal Bank of Canada in a research note on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. Royal Bank of Canada presently has an average rating of “Hold” and an average price target of $100.75.

Shares of NYSE:RY traded down $0.03 during trading on Tuesday, reaching $81.80. 571,800 shares of the company were exchanged, compared to its average volume of 913,310. The firm has a market capitalization of $117.26 billion, a PE ratio of 12.53, a P/E/G ratio of 2.06 and a beta of 1.12. The business’s fifty day simple moving average is $80.90 and its 200-day simple moving average is $78.65. Royal Bank of Canada has a 12-month low of $65.76 and a 12-month high of $82.58. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.91 and a quick ratio of 0.91.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 21st. The financial services provider reported $1.69 EPS for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.04). The company had revenue of $11.54 billion for the quarter, compared to analysts’ expectations of $11.56 billion. Royal Bank of Canada had a return on equity of 17.18% and a net margin of 19.66%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $2.10 earnings per share. On average, sell-side analysts anticipate that Royal Bank of Canada will post 6.78 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a dividend of $0.796 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $0.76. This represents a $3.18 dividend on an annualized basis and a dividend yield of 3.89%. Royal Bank of Canada’s dividend payout ratio (DPR) is 48.55%.

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 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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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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