Mountain Pacific Investment Advisers LLC Lowers Stock Position in Royal Bank Of Canada $RY

Mountain Pacific Investment Advisers LLC trimmed its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 16.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,749 shares of the financial services provider’s stock after selling 945 shares during the period. Mountain Pacific Investment Advisers LLC’s holdings in Royal Bank Of Canada were worth $625,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. lifted its stake in shares of 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 in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Royal Bank Of Canada during the first quarter valued at approximately $32,000. Cullen Frost Bankers Inc. lifted its position in Royal Bank Of Canada by 295.4% during the first quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider’s stock valued at $39,000 after buying an additional 257 shares in the last quarter. AdvisorNet Financial Inc grew its stake in Royal Bank Of Canada by 93.7% during the first quarter. AdvisorNet Financial Inc now owns 368 shares of the financial services provider’s stock worth $41,000 after buying an additional 178 shares during the period. Finally, Wayfinding Financial LLC acquired a new stake in shares of Royal Bank Of Canada in the first quarter worth $45,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Cibc World Mkts lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a report on Friday, September 5th. Cowen restated a “hold” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. CIBC lowered Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a research note on Friday, September 5th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Finally, Erste Group Bank upgraded Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $177.50.

Royal Bank Of Canada Stock Performance

Royal Bank Of Canada stock opened at $147.30 on Thursday. 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 stock has a 50 day moving average of $139.94 and a 200-day moving average of $128.82. The stock has a market cap of $207.01 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 1.49 and a beta of 0.86. 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 posted 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. The firm had revenue of $12.26 billion for 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 firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the company posted $3.26 earnings per share. On average, analysts expect that Royal Bank Of Canada will post 9.16 EPS 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.