Truist Financial Corp Lowers Stock Holdings in Royal Bank Of Canada $RY

Truist Financial Corp lowered its position in shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 19.8% in the 4th quarter, HoldingsChannel reports. The firm owned 81,109 shares of the financial services provider’s stock after selling 20,064 shares during the quarter. Truist Financial Corp’s holdings in Royal Bank Of Canada were worth $13,828,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Florida Trust Wealth Management Co increased its position in shares of Royal Bank Of Canada by 2.8% during the 4th quarter. Florida Trust Wealth Management Co now owns 2,190 shares of the financial services provider’s stock valued at $373,000 after purchasing an additional 60 shares during the last quarter. Fiduciary Financial Group LLC lifted its position in Royal Bank Of Canada by 3.4% in the 4th quarter. Fiduciary Financial Group LLC now owns 1,879 shares of the financial services provider’s stock worth $320,000 after buying an additional 61 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Royal Bank Of Canada by 1.6% in the third quarter. EverSource Wealth Advisors LLC now owns 4,836 shares of the financial services provider’s stock worth $713,000 after buying an additional 74 shares in the last quarter. Ballentine Partners LLC grew its position in Royal Bank Of Canada by 1.5% during the third quarter. Ballentine Partners LLC now owns 5,153 shares of the financial services provider’s stock valued at $759,000 after acquiring an additional 75 shares during the last quarter. Finally, Burney Co. grew its position in Royal Bank Of Canada by 1.7% during the fourth quarter. Burney Co. now owns 4,425 shares of the financial services provider’s stock valued at $754,000 after acquiring an additional 76 shares during the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Down 0.2%

Shares of NYSE:RY opened at $181.25 on Friday. The stock’s 50-day moving average is $168.74 and its 200 day moving average is $164.21. The company has a market cap of $253.33 billion, a PE ratio of 17.34, a P/E/G ratio of 1.37 and a beta of 0.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.70 and a quick ratio of 0.70. Royal Bank Of Canada has a 1 year low of $119.59 and a 1 year high of $182.73.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.13. The business had revenue of $13.18 billion during the quarter, compared to analysts’ expectations of $12.60 billion. Royal Bank Of Canada had a return on equity of 17.12% and a net margin of 15.28%.The business’s revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted $3.62 EPS. Sell-side analysts anticipate that Royal Bank Of Canada will post 11.57 EPS for the current year.

Royal Bank Of Canada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Investors of record on Thursday, April 23rd will be paid a $1.64 dividend. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $6.56 dividend on an annualized basis and a yield of 3.6%. Royal Bank Of Canada’s dividend payout ratio (DPR) is presently 45.17%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RY shares. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday. Zacks Research lowered shares of Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Royal Bank Of Canada in a research note on Monday. Raymond James Financial reissued an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, February 13th. Finally, Barclays reiterated an “overweight” rating on shares of Royal Bank Of Canada in a report on Thursday, February 19th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.00.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.