AMG National Trust Bank Sells 122 Shares of Royal Bank of Canada (NYSE:RY)

AMG National Trust Bank decreased its holdings in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 16,494 shares of the financial services provider’s stock after selling 122 shares during the quarter. AMG National Trust Bank’s holdings in Royal Bank of Canada were worth $1,988,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Royal Bank of Canada in the third quarter worth $25,000. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada in the third quarter worth $25,000. Larson Financial Group LLC purchased a new stake in Royal Bank of Canada in the third quarter worth $26,000. Roxbury Financial LLC purchased a new stake in Royal Bank of Canada in the fourth quarter worth $29,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Royal Bank of Canada during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on RY. BMO Capital Markets cut their price target on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. StockNews.com upgraded Royal Bank of Canada from a “sell” rating to a “hold” rating in a research note on Friday, February 28th. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. Finally, TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Two research analysts have rated the stock with 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Price Performance

Shares of RY stock opened at $115.07 on Friday. Royal Bank of Canada has a 1-year low of $95.84 and a 1-year high of $128.05. The stock’s 50-day moving average is $119.55 and its 200 day moving average is $121.59. The company has a market cap of $162.74 billion, a P/E ratio of 13.93, a PEG ratio of 1.80 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be given a dividend of $1.0251 per share. This represents a $4.10 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s payout ratio is currently 45.96%.

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 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.