Community Bank N.A. Lowers Stock Position in Royal Bank Of Canada $RY

Community Bank N.A. cut its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 4.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,684 shares of the financial services provider’s stock after selling 410 shares during the quarter. Community Bank N.A.’s holdings in Royal Bank Of Canada were worth $1,274,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in RY. Brighton Jones LLC boosted its holdings in Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock worth $279,000 after buying an additional 575 shares in the last quarter. CX Institutional purchased a new stake in Royal Bank Of Canada during the first quarter worth $199,000. Elevation Point Wealth Partners LLC boosted its holdings in Royal Bank Of Canada by 3.9% during the first quarter. Elevation Point Wealth Partners LLC now owns 5,093 shares of the financial services provider’s stock worth $574,000 after buying an additional 193 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Royal Bank Of Canada by 0.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 33,415 shares of the financial services provider’s stock worth $3,766,000 after buying an additional 226 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Royal Bank Of Canada during the first quarter worth $8,624,000. 45.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RY has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Royal Bank Of Canada from a “hold” rating to a “sell” rating in a report on Saturday. Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Cibc World Mkts downgraded shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, September 5th. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Six equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and a consensus target price of $177.50.

Royal Bank Of Canada Price Performance

Shares of NYSE RY opened at $144.53 on Tuesday. The firm has a 50-day simple moving average of $142.42 and a 200-day simple moving average of $130.78. The stock has a market capitalization of $203.11 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.45 and a beta of 0.86. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $149.26.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.43. The business had revenue of $12.26 billion during the quarter, compared to analysts’ expectations of $16.03 billion. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.26 earnings per share. On average, equities analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

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.