UMB Bank n.a. Reduces Stock Position in Royal Bank of Canada (NYSE:RY)

UMB Bank n.a. trimmed its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 35.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 590 shares of the financial services provider’s stock after selling 320 shares during the quarter. UMB Bank n.a.’s holdings in Royal Bank of Canada were worth $74,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Mountain Pacific Investment Advisers LLC raised its stake in shares of Royal Bank of Canada by 19.9% during the 3rd quarter. Mountain Pacific Investment Advisers LLC now owns 5,694 shares of the financial services provider’s stock valued at $710,000 after buying an additional 945 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in Royal Bank of Canada by 122.8% in the third quarter. Bruce G. Allen Investments LLC now owns 751 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 414 shares during the period. Hexagon Capital Partners LLC boosted its position in Royal Bank of Canada by 13.8% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,571 shares of the financial services provider’s stock worth $196,000 after purchasing an additional 191 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of Royal Bank of Canada by 1.2% during the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 27,247 shares of the financial services provider’s stock worth $3,399,000 after purchasing an additional 331 shares during the period. Finally, Atomi Financial Group Inc. increased its holdings in shares of Royal Bank of Canada by 28.9% during the 3rd quarter. Atomi Financial Group Inc. now owns 12,859 shares of the financial services provider’s stock valued at $1,604,000 after purchasing an additional 2,884 shares in the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of NYSE RY opened at $123.79 on Monday. The stock has a market capitalization of $175.17 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 1.99 and a beta of 0.86. Royal Bank of Canada has a 52 week low of $77.90 and a 52 week high of $125.28. The firm has a 50-day simple moving average of $118.57 and a 200-day simple moving average of $109.64. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.23. The business 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%. On average, equities analysts predict that Royal Bank of Canada will post 8.91 earnings per share for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th will be issued a $1.028 dividend. This represents a $4.11 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s payout ratio is currently 51.99%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RY. BMO Capital Markets upped their price objective on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. StockNews.com cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Finally, UBS Group assumed coverage on Royal Bank of Canada in a research report on Tuesday, July 2nd. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.50.

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.