M&T Bank Corp Has $2.89 Million Stake in Royal Bank of Canada (RY)

M&T Bank Corp trimmed its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,226 shares of the financial services provider’s stock after selling 2,462 shares during the period. M&T Bank Corp’s holdings in Royal Bank of Canada were worth $2,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Nordea Investment Management AB bought a new stake in shares of Royal Bank of Canada during the third quarter worth $463,806,000. Capital World Investors bought a new stake in shares of Royal Bank of Canada during the third quarter worth $135,873,000. Pathstone Family Office LLC bought a new stake in shares of Royal Bank of Canada during the third quarter worth $129,136,000. JPMorgan Chase & Co. lifted its holdings in Royal Bank of Canada by 151.6% in the third quarter. JPMorgan Chase & Co. now owns 2,553,655 shares of the financial services provider’s stock valued at $204,776,000 after buying an additional 1,538,669 shares during the period. Finally, Vanguard Group Inc lifted its holdings in Royal Bank of Canada by 2.7% in the third quarter. Vanguard Group Inc now owns 37,561,144 shares of the financial services provider’s stock valued at $3,012,028,000 after buying an additional 981,890 shares during the period. Institutional investors and hedge funds own 40.59% of the company’s stock.

Shares of RY stock opened at $76.06 on Monday. Royal Bank of Canada has a 52-week low of $65.76 and a 52-week high of $81.56. The stock has a market capitalization of $109.19 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 2.12 and a beta of 1.11. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, November 28th. The financial services provider reported $1.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.61 by $0.10. The firm had revenue of $10.67 billion during the quarter, compared to the consensus estimate of $11.14 billion. Royal Bank of Canada had a net margin of 21.60% and a return on equity of 18.09%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 EPS. On average, equities analysts expect that Royal Bank of Canada will post 6.82 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Shareholders of record on Thursday, January 24th will be paid a $0.745 dividend. This represents a $2.98 annualized dividend and a yield of 3.92%. The ex-dividend date is Wednesday, January 23rd. Royal Bank of Canada’s dividend payout ratio is presently 43.95%.

Several equities analysts recently issued reports on the stock. TD Securities upgraded shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a report on Monday, December 10th. Zacks Investment Research upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Thursday, November 15th. Macquarie upgraded shares of Royal Bank of Canada from a “neutral” rating to an “outperform” rating in a report on Wednesday, December 12th. Scotiabank reiterated an “average” rating and set a $115.00 price objective on shares of Royal Bank of Canada in a report on Sunday, December 2nd. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Royal Bank of Canada in a report on Thursday, November 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $96.67.

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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 check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

Read More: Market Capitalization and Individual Investors

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Institutional Ownership by Quarter for Royal Bank of Canada (NYSE:RY)

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