Country Club Bank Cuts Holdings in Royal Bank of Canada (NYSE:RY)

Country Club Bank cut its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,835 shares of the financial services provider’s stock after selling 852 shares during the quarter. Country Club Bank’s holdings in Royal Bank of Canada were worth $6,007,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in shares of Royal Bank of Canada during the second quarter valued at about $453,000. Cetera Investment Advisers grew its stake in shares of Royal Bank of Canada by 27.9% during the second quarter. Cetera Investment Advisers now owns 32,057 shares of the financial services provider’s stock valued at $3,410,000 after acquiring an additional 7,000 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Royal Bank of Canada during the second quarter valued at about $1,541,000. Park Avenue Securities LLC grew its stake in shares of Royal Bank of Canada by 84.2% during the third quarter. Park Avenue Securities LLC now owns 13,311 shares of the financial services provider’s stock valued at $1,660,000 after acquiring an additional 6,086 shares in the last quarter. Finally, Aprio Wealth Management LLC grew its stake in shares of Royal Bank of Canada by 6.3% during the third quarter. Aprio Wealth Management LLC now owns 8,430 shares of the financial services provider’s stock valued at $1,051,000 after acquiring an additional 499 shares in the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Stock Down 0.1 %

NYSE:RY opened at $118.68 on Wednesday. The company has a market capitalization of $167.85 billion, a price-to-earnings ratio of 14.37, a price-to-earnings-growth ratio of 1.82 and a beta of 0.87. Royal Bank of Canada has a one year low of $93.97 and a one year high of $128.05. The stock has a 50-day simple moving average of $122.27 and a 200 day simple moving average of $120.36. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be paid a $1.0522 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s payout ratio is presently 49.76%.

Wall Street Analyst Weigh In

RY has been the subject of several recent analyst reports. BMO Capital Markets lowered their target price on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $156.50.

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.