Nwam LLC Takes $354,000 Position in 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 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,842 shares of the financial services provider’s stock, valued at approximately $354,000.

Other hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in Royal Bank of Canada in the third quarter worth about $25,000. Whittier Trust Co. of Nevada Inc. grew its stake in Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 118 shares in the last quarter. Grove Bank & Trust acquired a new position in Royal Bank of Canada in the third quarter worth about $28,000. Ridgewood Investments LLC acquired a new position in Royal Bank of Canada in the second quarter worth about $27,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Royal Bank of Canada in the second quarter worth about $33,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on RY shares. BMO Capital Markets lifted their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Finally, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Royal Bank of Canada currently has an average rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada Stock Performance

Shares of NYSE RY opened at $125.08 on Monday. The firm’s 50-day moving average price is $123.39 and its two-hundred day moving average price is $114.74. The stock has a market capitalization of $176.82 billion, a P/E ratio of 15.12, a P/E/G ratio of 1.93 and a beta of 0.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. Royal Bank of Canada has a 52-week low of $85.02 and a 52-week high of $126.96.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. The company had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. As a group, sell-side 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 firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.29%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.79%.

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.