Royal Bank Of Canada $RY Stock Position Trimmed by DekaBank Deutsche Girozentrale

Key Points

• DekaBank Deutsche Girozentrale has reduced its stake in the Royal Bank of Canada (NYSE:RY) by 0.5%, now owning 945,161 shares valued at approximately $122.78 million.
• Analyst ratings for Royal Bank of Canada show mixed sentiments, with brokerages like BMO Capital Markets and Scotiabank maintaining an "outperform" rating, while CIBC and Wall Street Zen have downgraded their ratings to "neutral" and "sell", respectively.
• Royal Bank of Canada's recent earnings report exceeded consensus estimates with $2.79 EPS compared to expected $2.36, although revenues fell short at $12.26 billion versus a target of $16.03 billion.

DekaBank Deutsche Girozentrale cut its position in Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY by 0.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 945,161 shares of the financial services provider's stock after selling 4,438 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.07% of Royal Bank Of Canada worth $122,780,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Sunbelt Securities Inc. lifted its position in Royal Bank Of Canada by 2,272.7% in the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 250 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Royal Bank Of Canada during the 1st quarter worth about $32,000. Roxbury Financial LLC lifted its stake in shares of Royal Bank Of Canada by 44.3% in the 2nd quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider's stock worth $45,000 after acquiring an additional 104 shares during the period. Cullen Frost Bankers Inc. lifted its stake in shares of Royal Bank Of Canada by 295.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider's stock worth $39,000 after acquiring an additional 257 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in shares of Royal Bank Of Canada in the 1st quarter worth approximately $45,000. 45.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RY. BMO Capital Markets reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. CIBC lowered shares of Royal Bank Of Canada from a "sector outperform" rating to a "neutral" rating in a research note on Friday, September 5th. Wall Street Zen lowered shares of Royal Bank Of Canada from a "hold" rating to a "sell" rating in a research note on Saturday, October 11th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Royal Bank Of Canada in a research note on Wednesday, October 8th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $177.50.

Royal Bank Of Canada Stock Up 0.8%

NYSE RY opened at $146.97 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The company's 50 day simple moving average is $143.80 and its 200 day simple moving average is $131.92. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $149.26. The company has a market capitalization of $206.55 billion, a P/E ratio of 15.52, a PEG ratio of 1.46 and a beta of 0.86.

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

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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