Galvin Gaustad & Stein LLC Lowers Holdings in Royal Bank Of Canada $RY

Galvin Gaustad & Stein LLC trimmed its holdings in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,200 shares of the financial services provider’s stock after selling 230 shares during the period. Galvin Gaustad & Stein LLC’s holdings in Royal Bank Of Canada were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in RY. Sunbelt Securities Inc. lifted its position in shares of Royal Bank Of Canada by 2,272.7% in the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 250 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Royal Bank Of Canada in the first quarter valued at about $32,000. Cullen Frost Bankers Inc. increased its holdings in shares of 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 worth $39,000 after purchasing an additional 257 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Royal Bank Of Canada in the first quarter worth about $45,000. Finally, Roxbury Financial LLC increased its holdings in shares of 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 worth $45,000 after purchasing an additional 104 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Erste Group Bank raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. National Bankshares reaffirmed a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Wednesday. Finally, Cowen reaffirmed a “hold” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and a consensus price target of $177.50.

Royal Bank Of Canada Trading Down 1.1%

Shares of NYSE RY opened at $143.61 on Friday. The business’s 50 day moving average is $142.13 and its two-hundred day moving average is $130.34. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $149.26. The stock has a market capitalization of $201.82 billion, a P/E ratio of 15.16, a PEG ratio of 1.47 and a beta of 0.86.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.43. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The company had revenue of $12.26 billion for the quarter, compared to analysts’ expectations of $16.03 billion. During the same period in the previous year, the firm posted $3.26 earnings per share. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. As a group, research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Company 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.