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

Busey Bank trimmed its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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.

A number of other hedge funds have also recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new stake in Royal Bank of Canada during the 3rd quarter valued at approximately $25,000. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada during the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC bought a new stake in shares of Royal Bank of Canada during the third quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Royal Bank of Canada by 110.3% in 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 acquiring an additional 118 shares during the last quarter. Finally, Grove Bank & Trust purchased a new stake in Royal Bank of Canada in the 3rd quarter worth $28,000. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock opened at $123.36 on Friday. The stock has a 50 day moving average price of $122.47 and a 200-day moving average price of $120.08. Royal Bank of Canada has a one year low of $93.97 and a one year high of $128.05. The stock has a market cap of $174.47 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.82 and a beta of 0.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a dividend of $1.0522 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.03. The ex-dividend date is Monday, January 27th. This represents a $4.21 dividend on an annualized basis and a yield of 3.41%. Royal Bank of Canada’s payout ratio is 49.76%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. BMO Capital Markets decreased their price objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, December 5th. StockNews.com lowered shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. Finally, TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.