Cardinal Capital Management Inc. Sells 38,016 Shares of Royal Bank Of Canada $RY

Key Points

• Cardinal Capital Management sold 38,016 shares of Royal Bank of Canada in Q4, trimming its position by 4.1% to 879,128 shares (about $149.9M), making RY its 17th-largest holding.
• Royal Bank of Canada beat quarterly expectations with EPS of $2.94 vs. $2.81 est. and revenue of $13.18B (up 4.4% YoY), and analysts forecast roughly 9.16 EPS for the current year.
• The bank announced a quarterly dividend of $1.64 (annualized $6.56, ~3.8% yield; ex-dividend Apr 23, payable May 22) and carries a consensus "Moderate Buy" analyst rating with an average price target of $162.

Cardinal Capital Management Inc. lowered its position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 879,128 shares of the financial services provider's stock after selling 38,016 shares during the period. Royal Bank Of Canada makes up approximately 0.0% of Cardinal Capital Management Inc.'s investment portfolio, making the stock its 17th biggest holding. Cardinal Capital Management Inc. owned approximately 0.06% of Royal Bank Of Canada worth $149,883,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in RY. Brighton Jones LLC lifted its stake in Royal Bank Of Canada by 33.1% in the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock worth $279,000 after purchasing an additional 575 shares during the last quarter. AQR Capital Management LLC lifted its stake in Royal Bank Of Canada by 60.9% in the first quarter. AQR Capital Management LLC now owns 11,779 shares of the financial services provider's stock worth $1,321,000 after purchasing an additional 4,460 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Royal Bank Of Canada by 57.7% in the second quarter. Sivia Capital Partners LLC now owns 5,284 shares of the financial services provider's stock worth $695,000 after purchasing an additional 1,934 shares during the last quarter. Baird Financial Group Inc. lifted its stake in Royal Bank Of Canada by 39.1% in the second quarter. Baird Financial Group Inc. now owns 13,555 shares of the financial services provider's stock worth $1,783,000 after purchasing an additional 3,811 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in Royal Bank Of Canada by 9.0% in the second quarter. Cerity Partners LLC now owns 47,721 shares of the financial services provider's stock worth $6,279,000 after purchasing an additional 3,928 shares during the last quarter. Institutional investors own 45.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on RY shares. Raymond James Financial reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Friday, February 13th. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Wednesday, December 17th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Royal Bank Of Canada in a research note on Thursday, January 22nd. Finally, Zacks Research downgraded shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 3rd. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $162.00.

Royal Bank Of Canada Stock Performance

Royal Bank Of Canada stock opened at $170.68 on Friday. The company has a 50 day moving average price of $166.42 and a 200-day moving average price of $160.12. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.70 and a current ratio of 0.70. Royal Bank Of Canada has a fifty-two week low of $108.93 and a fifty-two week high of $176.19. The company has a market capitalization of $238.56 billion, a PE ratio of 16.33, a P/E/G ratio of 1.28 and a beta of 0.78.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings results on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.13. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The firm had revenue of $13.18 billion during the quarter, compared to the consensus estimate of $12.60 billion. During the same quarter in the previous year, the firm posted $3.62 earnings per share. The company's revenue was up 4.4% on a year-over-year basis. As a group, equities analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Royal Bank Of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be issued a dividend of $1.64 per share. This represents a $6.56 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank Of Canada's dividend payout ratio (DPR) is presently 45.74%.

About Royal Bank Of Canada

Royal Bank of Canada NYSE: RY is a diversified financial services company and one of Canada's largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.

Want to see what other hedge funds are holding RY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.