Royal Bank Of Canada $RY Shares Sold by Pembroke Management LTD

Pembroke Management LTD cut its stake in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 10.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,411 shares of the financial services provider’s stock after selling 1,081 shares during the quarter. Pembroke Management LTD’s holdings in Royal Bank Of Canada were worth $1,061,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Park Square Financial Group LLC acquired a new stake in shares of Royal Bank Of Canada during the fourth quarter worth $25,000. Sunbelt Securities Inc. raised its position 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 acquiring an additional 250 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Royal Bank Of Canada in the first quarter worth $32,000. Cullen Frost Bankers Inc. raised its position 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 acquiring an additional 257 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its position 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 acquiring an additional 178 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Up 0.5%

Shares of RY stock opened at $146.02 on Friday. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $147.64. The stock has a market cap of $205.19 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.68 and a beta of 0.89. The business has a fifty day simple moving average of $132.91 and a 200-day simple moving average of $123.93. 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 announced its quarterly earnings results 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. Royal Bank Of Canada had a return on equity of 16.31% and a net margin of 14.03%.The business had revenue of $12.26 billion during the quarter, compared to analysts’ expectations of $16.03 billion. During the same quarter last year, the business posted $3.26 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. National Bank Financial cut Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 30th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. National Bankshares reiterated a “sector perform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. Wall Street Zen cut Royal Bank Of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, May 31st. Finally, Scotiabank initiated coverage on Royal Bank Of Canada in a research report on Thursday, May 15th. They issued a “sector outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Royal Bank Of Canada has an average rating of “Moderate Buy” and a consensus price target of $193.00.

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.