Moors & Cabot Inc. Sells 198 Shares of Royal Bank of Canada (NYSE:RY)

Moors & Cabot Inc. decreased its position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,493 shares of the financial services provider’s stock after selling 198 shares during the quarter. Moors & Cabot Inc.’s holdings in Royal Bank of Canada were worth $1,184,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Capital Performance Advisors LLP bought a new stake in Royal Bank of Canada in the third quarter valued at approximately $25,000. Ridgewood Investments LLC bought a new stake in Royal Bank of Canada during the second quarter worth $27,000. Grove Bank & Trust acquired a new stake in Royal Bank of Canada in the third quarter valued at about $28,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Royal Bank of Canada by 110.3% during 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 purchasing an additional 118 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Royal Bank of Canada during the second quarter worth $33,000. Institutional investors and hedge funds own 45.31% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Royal Bank of Canada Price Performance

Shares of Royal Bank of Canada stock opened at $125.09 on Friday. The business’s 50 day simple moving average is $123.36 and its two-hundred day simple moving average is $114.40. Royal Bank of Canada has a one year low of $85.02 and a one year high of $126.96. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $176.84 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 1.88 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its 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 firm had revenue of $10.68 billion for the quarter, compared to analyst estimates of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. Analysts forecast that Royal Bank of Canada will post 8.88 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be issued a $1.028 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a yield of 3.29%. Royal Bank of Canada’s payout ratio is currently 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.