Royal Bank of Canada (NYSE:RY) Stock Position Reduced by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. cut its holdings in Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY by 9.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 919,466 shares of the financial services provider's stock after selling 98,670 shares during the period. Royal Bank of Canada comprises about 3.5% of Cardinal Capital Management Inc.'s holdings, making the stock its 11th largest position. Cardinal Capital Management Inc. owned about 0.07% of Royal Bank of Canada worth $103,617,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in RY. Park Square Financial Group LLC acquired a new stake in shares of Royal Bank of Canada during the 4th quarter worth about $25,000. Roxbury Financial LLC acquired a new stake in shares of Royal Bank of Canada during the 4th quarter worth about $29,000. WealthTrak Capital Management LLC acquired a new stake in shares of Royal Bank of Canada during the 4th quarter worth about $28,000. Optiver Holding B.V. acquired a new stake in shares of Royal Bank of Canada during the 4th quarter worth about $35,000. Finally, Transce3nd LLC acquired a new stake in shares of Royal Bank of Canada in the fourth quarter worth approximately $37,000. 45.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a research report on Saturday, May 31st. National Bank Financial cut shares of Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Scotiabank assumed coverage on shares of Royal Bank of Canada in a research report on Thursday, May 15th. They issued a "sector outperform" rating on the stock. Barclays reissued an "overweight" rating on shares of Royal Bank of Canada in a research report on Monday. Finally, Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Royal Bank of Canada presently has an average rating of "Moderate Buy" and a consensus target price of $193.00.

Royal Bank of Canada Stock Down 0.3%

NYSE RY traded down $0.35 on Wednesday, reaching $127.96. The company had a trading volume of 666,750 shares, compared to its average volume of 1,140,063. 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 has a 1 year low of $102.44 and a 1 year high of $129.85. The firm has a 50-day moving average of $120.68 and a 200-day moving average of $119.85. The firm has a market capitalization of $180.49 billion, a PE ratio of 15.49, a P/E/G ratio of 1.80 and a beta of 0.89.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last released its quarterly earnings results on Thursday, May 29th. The financial services provider reported $2.20 EPS for the quarter, missing the consensus estimate of $2.25 by ($0.05). Royal Bank of Canada had a return on equity of 15.26% and a net margin of 12.08%. The business had revenue of $11.38 billion during the quarter, compared to analyst estimates of $15.77 billion. During the same quarter last year, the firm posted $2.92 EPS. The company's revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that Royal Bank of Canada will post 9.16 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Thursday, July 24th will be paid a dividend of $1.1152 per share. This is a boost from Royal Bank of Canada's previous quarterly dividend of $1.03. This represents a $4.46 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Thursday, July 24th. Royal Bank of Canada's dividend payout ratio is 49.78%.

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.