Royal Bank of Canada (NYSE:RY) Holdings Decreased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,326 shares of the financial services provider’s stock after selling 200 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Royal Bank of Canada were worth $914,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Royal Bank of Canada in the third quarter valued at approximately $25,000. Ridgewood Investments LLC bought a new position in Royal Bank of Canada during the 2nd quarter valued at $27,000. Grove Bank & Trust acquired a new position in shares of Royal Bank of Canada during the 3rd quarter valued at $28,000. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Royal Bank of Canada by 110.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after buying an additional 118 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Royal Bank of Canada in the second quarter valued at $33,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

RY has been the subject of a number of research analyst reports. BMO Capital Markets upped their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

Royal Bank of Canada Price Performance

NYSE RY opened at $122.94 on Wednesday. Royal Bank of Canada has a 1 year low of $85.02 and a 1 year high of $126.96. The stock’s 50-day moving average price is $123.37 and its two-hundred day moving average price is $114.27. The company has a market cap of $173.80 billion, a PE ratio of 14.87, a PEG ratio of 1.86 and a beta of 0.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, beating the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The business had revenue of $10.68 billion during the quarter, compared to the consensus estimate of $10.40 billion. On average, analysts predict that Royal Bank of Canada will post 8.88 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be issued a dividend of $1.028 per share. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.34%. Royal Bank of Canada’s dividend payout ratio is 50.67%.

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.