Godsey & Gibb Inc. Sells 11,261 Shares of Royal Bank Of Canada $RY

Key Points

• Godsey & Gibb Inc. reduced its Royal Bank of Canada stake by 6.6%, selling 11,261 shares during the third quarter. It still held 159,559 shares valued at approximately $31.4 million, representing 2.2% of its portfolio.
• Royal Bank of Canada reported quarterly earnings of $3.07 per share, exceeding the $2.89 consensus estimate, while revenue of $13.22 billion also surpassed expectations. The bank declared a quarterly dividend of C$1.76, equivalent to a 3.6% annualized yield.
• Analyst sentiment remains positive, with the stock carrying a “Moderate Buy” consensus rating and a $225 average price target. Shares opened at $193.75, down 0.5%, and institutional investors collectively own 45.31% of the company.

Godsey & Gibb Inc. lessened its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 6.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 159,559 shares of the financial services provider's stock after selling 11,261 shares during the quarter. Royal Bank Of Canada makes up about 2.2% of Godsey & Gibb Inc.'s portfolio, making the stock its 10th biggest position. Godsey & Gibb Inc.'s holdings in Royal Bank Of Canada were worth $31,368,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in RY. Roxbury Financial LLC boosted its position in Royal Bank Of Canada by 12.8% during the third quarter. Roxbury Financial LLC now owns 501 shares of the financial services provider's stock valued at $98,000 after purchasing an additional 57 shares in the last quarter. Echo45 Advisors LLC grew its stake in Royal Bank Of Canada by 5.0% in the first quarter. Echo45 Advisors LLC now owns 1,258 shares of the financial services provider's stock valued at $204,000 after purchasing an additional 60 shares during the last quarter. Key Financial Inc grew its stake in Royal Bank Of Canada by 63.0% in the first quarter. Key Financial Inc now owns 163 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 63 shares during the last quarter. Apella Capital LLC raised its holdings in Royal Bank Of Canada by 3.1% in the second quarter. Apella Capital LLC now owns 2,155 shares of the financial services provider's stock worth $451,000 after purchasing an additional 64 shares in the last quarter. Finally, Cornerstone Financial Management LLC raised its holdings in Royal Bank Of Canada by 45.2% in the second quarter. Cornerstone Financial Management LLC now owns 212 shares of the financial services provider's stock worth $44,000 after purchasing an additional 66 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Down 0.5%

Royal Bank Of Canada stock opened at $193.75 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $268.14 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 1.75 and a beta of 0.80. Royal Bank Of Canada has a 1-year low of $143.38 and a 1-year high of $218.57. The business has a fifty day moving average price of $204.10 and a 200-day moving average price of $196.09.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.18. Royal Bank Of Canada had a return on equity of 17.79% and a net margin of 16.17%. The firm had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $12.98 billion. Equities research analysts forecast that Royal Bank Of Canada will post 11.83 EPS for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Shareholders of record on Monday, October 26th will be issued a C$1.76 dividend. This represents a $7.04 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, October 26th. Royal Bank Of Canada's dividend payout ratio (DPR) is currently 43.39%.

Wall Street Analysts Forecast Growth

Several analysts have commented on RY shares. Weiss Ratings raised shares of Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, July 29th. Keefe, Bruyette & Woods started coverage on shares of Royal Bank Of Canada in a research report on Friday, August 21st. They issued a "market perform" rating on the stock. TD Securities reaffirmed a "buy" rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. Finally, Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research report on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $225.00.

About Royal Bank Of Canada

Royal Bank of Canada NYSE: RY is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and serves individuals, businesses, institutional clients and governments.

RBC provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and financial advice. Its wealth management operations offer investment management, brokerage, trust, private banking and financial planning services to individuals, families and institutions.

Through RBC Capital Markets, the company provides investment banking, corporate banking, securities, sales and trading, and financial advisory services.

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