M&T Bank Corp Has $5.61 Million Position in Royal Bank of Canada (NYSE:RY)

M&T Bank Corp cut its stake in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) by 0.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 55,436 shares of the financial services provider’s stock after selling 196 shares during the quarter. M&T Bank Corp’s holdings in Royal Bank of Canada were worth $5,606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Royal Bank of Canada by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 53,127,219 shares of the financial services provider’s stock valued at $4,645,444,000 after buying an additional 717,971 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Royal Bank of Canada by 5.4% during the 4th quarter. Mackenzie Financial Corp now owns 26,869,809 shares of the financial services provider’s stock worth $2,718,631,000 after purchasing an additional 1,369,723 shares in the last quarter. Bank of Nova Scotia increased its holdings in Royal Bank of Canada by 13.0% during the 3rd quarter. Bank of Nova Scotia now owns 26,666,961 shares of the financial services provider’s stock worth $2,330,506,000 after purchasing an additional 3,062,038 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Royal Bank of Canada by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 12,413,445 shares of the financial services provider’s stock worth $1,088,176,000 after purchasing an additional 106,757 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Royal Bank of Canada by 1.6% during the 3rd quarter. Wellington Management Group LLP now owns 10,590,914 shares of the financial services provider’s stock worth $929,810,000 after purchasing an additional 166,968 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

Royal Bank of Canada Price Performance

Royal Bank of Canada stock opened at $101.81 on Tuesday. Royal Bank of Canada has a 12 month low of $77.90 and a 12 month high of $103.88. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. The business’s 50 day simple moving average is $99.24 and its 200 day simple moving average is $95.51. The company has a market cap of $144.04 billion, a price-to-earnings ratio of 12.82, a PEG ratio of 1.74 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, February 28th. The financial services provider reported $2.11 EPS for the quarter, beating the consensus estimate of $2.06 by $0.05. Royal Bank of Canada had a return on equity of 14.74% and a net margin of 12.43%. The business had revenue of $9.98 billion for the quarter, compared to the consensus estimate of $10.10 billion. Sell-side analysts forecast that Royal Bank of Canada will post 8.45 EPS for the current year.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Thursday, April 25th will be paid a $1.0207 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $4.08 annualized dividend and a yield of 4.01%. Royal Bank of Canada’s dividend payout ratio is presently 25.31%.

Analyst Upgrades and Downgrades

RY has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on Royal Bank of Canada in a report on Thursday, February 22nd. They set a “hold” rating for the company. Barclays initiated coverage on Royal Bank of Canada in a research note on Wednesday, March 20th. They issued an “equal weight” rating on the stock. BMO Capital Markets upgraded Royal Bank of Canada from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $140.00 to $150.00 in a research note on Friday, April 5th. Finally, StockNews.com downgraded Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank of Canada has an average rating of “Hold” and a consensus price target of $137.67.

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.