Sanibel Captiva Trust Company Inc. Sells 536 Shares of Royal Bank of Canada (NYSE:RY)

Sanibel Captiva Trust Company Inc. reduced its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 20.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,130 shares of the financial services provider’s stock after selling 536 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Royal Bank of Canada were worth $240,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in RY. Park Square Financial Group LLC bought a new stake in Royal Bank of Canada during the fourth quarter worth approximately $25,000. WealthTrak Capital Management LLC bought a new position in shares of Royal Bank of Canada during the fourth quarter valued at approximately $28,000. Roxbury Financial LLC bought a new position in shares of Royal Bank of Canada during the fourth quarter valued at approximately $29,000. Optiver Holding B.V. bought a new position in shares of Royal Bank of Canada during the fourth quarter valued at approximately $35,000. Finally, Transce3nd LLC bought a new position in shares of Royal Bank of Canada during the fourth quarter valued at approximately $37,000. 45.31% of the stock is owned by institutional investors.

Royal Bank of Canada Stock Down 0.3%

Shares of NYSE RY opened at $127.96 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $180.49 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 1.80 and a beta of 0.89. The stock has a 50 day moving average price of $121.02 and a 200 day moving average price of $119.91. Royal Bank of Canada has a 52-week low of $102.44 and a 52-week high of $129.46.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.25 by ($0.05). The firm had revenue of $11.38 billion during the quarter, compared to analysts’ expectations of $15.77 billion. Royal Bank of Canada had a net margin of 12.08% and a return on equity of 15.26%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.92 EPS. Sell-side analysts expect that Royal Bank of Canada will post 9.16 earnings per share for the current year.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be issued a dividend of $1.1152 per share. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $4.46 dividend on an annualized basis and a yield of 3.49%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio is currently 49.78%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RY shares. Wall Street Zen cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Saturday, May 31st. Barclays reaffirmed an “overweight” rating on shares of Royal Bank of Canada in a research note on Monday. Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. National Bank Financial cut Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note on Friday, May 30th. Finally, Scotiabank began coverage on Royal Bank of Canada in a research note on Thursday, May 15th. They set a “sector outperform” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $193.00.

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.