NBC Securities Inc. Sells 350,914 Shares of Royal Bank Of Canada $RY

Key Points

• NBC Securities Inc. significantly reduced its stake in the Royal Bank of Canada, selling 350,914 shares and holding only 10,905 shares afterward, representing a 97.0% decrease.
• The Royal Bank of Canada reported earnings of $2.79 per share for Q2, surpassing estimates, but faced a revenue miss with $12.26 billion against expectations of $16.03 billion.
• Analysts' ratings for the bank's stock remain cautious; while there are four "Buy" ratings, the consensus rating is a "Hold" with an average price target of $177.50.

NBC Securities Inc. reduced its stake in shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 97.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 10,905 shares of the financial services provider's stock after selling 350,914 shares during the period. NBC Securities Inc.'s holdings in Royal Bank Of Canada were worth $1,434,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in RY. Brighton Jones LLC lifted its holdings in shares of Royal Bank Of Canada by 33.1% during the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock worth $279,000 after acquiring an additional 575 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Royal Bank Of Canada by 68.3% during the 4th quarter. BNP Paribas Financial Markets now owns 2,148 shares of the financial services provider's stock worth $259,000 after acquiring an additional 872 shares during the last quarter. Man Group plc lifted its holdings in shares of Royal Bank Of Canada by 29.4% during the 4th quarter. Man Group plc now owns 38,076 shares of the financial services provider's stock worth $4,589,000 after acquiring an additional 8,646 shares during the last quarter. State of Wyoming lifted its holdings in shares of Royal Bank Of Canada by 304.7% during the 4th quarter. State of Wyoming now owns 3,201 shares of the financial services provider's stock worth $386,000 after acquiring an additional 2,410 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new stake in Royal Bank Of Canada in the fourth quarter worth $3,398,000. 45.31% of the stock is owned by institutional investors.

Royal Bank Of Canada Price Performance

RY stock opened at $145.36 on Tuesday. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $147.64. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The firm's 50-day moving average price is $136.46 and its two-hundred day moving average price is $126.18. The stock has a market capitalization of $204.26 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.48 and a beta of 0.88.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.43. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The company had revenue of $12.26 billion for the quarter, compared to analysts' expectations of $16.03 billion. During the same quarter in the previous year, the company earned $3.26 earnings per share. Royal Bank Of Canada's quarterly revenue was up 16.1% on a year-over-year basis. As a group, equities analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Cibc World Mkts downgraded shares of Royal Bank Of Canada from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 5th. Cowen reissued a "hold" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. National Bankshares reissued a "sector perform" rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. Wall Street Zen raised shares of Royal Bank Of Canada from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Finally, CIBC downgraded shares of Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research note on Friday, September 5th. Four equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of "Hold" and an average target price of $177.50.

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.

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