NBC Securities Inc. Trims Stake in Royal Bank Of Canada $RY

NBC Securities Inc. lowered its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 97.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 10,905 shares of the financial services provider’s stock after selling 350,914 shares during the period. NBC Securities Inc.’s holdings in Royal Bank Of Canada were worth $1,434,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of RY. Park Square Financial Group LLC purchased a new stake in Royal Bank Of Canada in the fourth quarter worth about $25,000. Sunbelt Securities Inc. grew its holdings in Royal Bank Of Canada by 2,272.7% in the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Royal Bank Of Canada in the first quarter worth about $32,000. Cullen Frost Bankers Inc. grew its holdings in Royal Bank Of Canada by 295.4% in the first quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 257 shares during the period. Finally, AdvisorNet Financial Inc grew its holdings in Royal Bank Of Canada by 93.7% in the first quarter. AdvisorNet Financial Inc now owns 368 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 178 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. National Bankshares restated a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Argus upped their price objective on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. National Bank Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note on Friday, May 30th. Finally, Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Four investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $177.50.

Royal Bank Of Canada Stock Up 0.8%

Shares of Royal Bank Of Canada stock opened at $145.36 on Tuesday. The company has a market cap of $204.26 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 1.48 and a beta of 0.88. The company’s 50 day moving average is $136.46 and its 200 day moving average is $126.18. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $147.64. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.43. The company had revenue of $12.26 billion for the quarter, compared to the consensus estimate of $16.03 billion. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.26 earnings per share. Research analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current year.

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.