Nwam LLC Buys Shares of 2,842 Royal Bank of Canada (NYSE:RY)

Nwam LLC bought a new stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,842 shares of the financial services provider’s stock, valued at approximately $354,000.

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

Royal Bank of Canada Stock Down 0.0 %

Royal Bank of Canada stock opened at $125.08 on Monday. The firm has a market cap of $176.82 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 1.93 and a beta of 0.86. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. Royal Bank of Canada has a fifty-two week low of $85.02 and a fifty-two week high of $126.96. The firm has a fifty day moving average price of $123.39 and a two-hundred day moving average price of $114.74.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23. The firm had revenue of $10.68 billion during the quarter, compared to analyst estimates of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. As a group, analysts forecast that Royal Bank of Canada will post 8.37 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th were issued a dividend of $1.028 per share. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $4.11 annualized dividend and a dividend yield of 3.29%. Royal Bank of Canada’s payout ratio is 50.79%.

Wall Street Analyst Weigh In

RY has been the subject of several analyst reports. 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. BMO Capital Markets lifted their price objective on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $142.50.

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.