Basswood Capital Management L.L.C. Acquires Shares of 28,335 Royal Bank of Canada (NYSE:RY)

Basswood Capital Management L.L.C. bought a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 28,335 shares of the financial services provider’s stock, valued at approximately $3,536,000.

Other large investors have also modified their holdings of the company. Erste Asset Management GmbH acquired a new position in shares of Royal Bank of Canada during the 3rd quarter worth $8,771,000. Edgestream Partners L.P. acquired a new position in Royal Bank of Canada during the third quarter worth about $352,000. Caisse DE Depot ET Placement DU Quebec grew its position in Royal Bank of Canada by 18.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider’s stock worth $291,925,000 after buying an additional 359,719 shares during the period. Rockefeller Capital Management L.P. increased its holdings in Royal Bank of Canada by 4.5% in the third quarter. Rockefeller Capital Management L.P. now owns 239,939 shares of the financial services provider’s stock valued at $29,924,000 after buying an additional 10,362 shares in the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at approximately $62,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $125.67 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. The business’s fifty day moving average price is $123.61 and its two-hundred day moving average price is $115.48. The stock has a market cap of $177.66 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. Royal Bank of Canada has a one year low of $88.49 and a one year high of $126.96.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RY. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. Finally, 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. One analyst has rated the stock with a sell rating, one has given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $142.50.

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.