Laurel Wealth Advisors LLC Sells 368,804 Shares of Royal Bank Of Canada $RY

Laurel Wealth Advisors LLC cut its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 99.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,825 shares of the financial services provider’s stock after selling 368,804 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Royal Bank Of Canada were worth $416,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Toth Financial Advisory Corp bought a new position in Royal Bank Of Canada in the third quarter valued at approximately $29,000. True Wealth Design LLC acquired a new stake in shares of Royal Bank Of Canada during the third quarter worth $31,000. Atlantic Union Bankshares Corp bought a new stake in Royal Bank Of Canada in the 3rd quarter valued at $38,000. CoreCap Advisors LLC boosted its stake in Royal Bank Of Canada by 103.8% in the 3rd quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 138 shares during the period. Finally, Twin Peaks Wealth Advisors LLC acquired a new position in Royal Bank Of Canada in the 2nd quarter worth $51,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on RY shares. Weiss Ratings restated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. TD Securities raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. TD Cowen upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. Jefferies Financial Group downgraded Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a report on Wednesday, December 17th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and an average target price of $162.00.

Royal Bank Of Canada Stock Up 0.8%

NYSE:RY opened at $168.65 on Tuesday. Royal Bank Of Canada has a twelve month low of $106.10 and a twelve month high of $176.19. The firm has a market capitalization of $235.72 billion, a price-to-earnings ratio of 16.14, a price-to-earnings-growth ratio of 1.23 and a beta of 0.79. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.09. The stock’s 50 day moving average price is $170.01 and its two-hundred day moving average price is $156.30.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 EPS for the quarter, beating the consensus estimate of $2.81 by $0.13. The company had revenue of $13.18 billion during the quarter, compared to the consensus estimate of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.62 EPS. Equities research analysts expect that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Royal Bank Of Canada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Thursday, April 23rd will be given a $1.64 dividend. This represents a $6.56 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank Of Canada’s dividend payout ratio (DPR) is 45.74%.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.