Busey Bank Reduces Stock Position in Royal Bank of Canada (NYSE:RY)

Busey Bank decreased its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,833 shares of the financial services provider’s stock after selling 154 shares during the period. Busey Bank’s holdings in Royal Bank of Canada were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in RY. Capital Performance Advisors LLP bought a new position in shares of Royal Bank of Canada in the third quarter worth about $25,000. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada in the 3rd quarter valued at about $25,000. Larson Financial Group LLC bought a new position in Royal Bank of Canada in the 3rd quarter worth about $26,000. Grove Bank & Trust purchased a new position in shares of Royal Bank of Canada during the third quarter worth approximately $28,000. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of Royal Bank of Canada by 110.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 118 shares in the last quarter. 45.31% of the stock is currently owned by institutional investors.

Royal Bank of Canada Trading Up 1.1 %

Shares of NYSE:RY opened at $123.36 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $174.47 billion, a PE ratio of 14.93, a P/E/G ratio of 1.82 and a beta of 0.87. Royal Bank of Canada has a 12-month low of $93.97 and a 12-month high of $128.05. The business’s fifty day simple moving average is $122.47 and its 200-day simple moving average is $120.08.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be issued a $1.0522 dividend. The ex-dividend date of this dividend is Monday, January 27th. 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 3.41%. Royal Bank of Canada’s payout ratio is currently 49.76%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on RY shares. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. BMO Capital Markets lowered their price objective on shares of 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. Finally, TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.50.

About Royal Bank of Canada

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.