Canopy Partners LLC Grows Stock Position in Royal Bank Of Canada $RY

Canopy Partners LLC increased its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 3.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,899 shares of the financial services provider’s stock after buying an additional 98 shares during the quarter. Canopy Partners LLC’s holdings in Royal Bank Of Canada were worth $381,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. raised its holdings 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 buying an additional 250 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Royal Bank Of Canada in the 1st quarter valued at approximately $32,000. Cullen Frost Bankers Inc. raised its position in Royal Bank Of Canada by 295.4% in the first quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 257 shares during the period. Wayfinding Financial LLC purchased a new stake in Royal Bank Of Canada in the first quarter valued at approximately $45,000. Finally, Roxbury Financial LLC raised its position in Royal Bank Of Canada by 44.3% in the second quarter. Roxbury Financial LLC now owns 339 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Upgrades and Downgrades

RY has been the topic of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Saturday, September 27th. Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Erste Group Bank raised shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research note on Monday, September 22nd. 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. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Six investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and an average target price of $177.50.

Royal Bank Of Canada Trading Down 0.7%

Shares of NYSE:RY opened at $145.93 on Wednesday. Royal Bank Of Canada has a 52 week low of $106.10 and a 52 week high of $149.26. The company’s 50 day moving average is $141.18 and its two-hundred day moving average is $129.85. 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 company has a market cap of $205.08 billion, a PE ratio of 15.41, a P/E/G ratio of 1.49 and a beta of 0.86.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Wednesday, August 27th. The financial services provider reported $2.79 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 analyst estimates of $16.03 billion. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.Royal Bank Of Canada’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.26 earnings per share. 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.