M&T Bank Corp Cuts Stock Holdings in Royal Bank of Canada (NYSE:RY)

M&T Bank Corp lowered its position in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,196 shares of the financial services provider’s stock after selling 556 shares during the period. M&T Bank Corp’s holdings in Royal Bank of Canada were worth $6,011,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Royal Bank of Canada by 75.8% during the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock valued at $2,229,834,000 after buying an additional 7,702,585 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Royal Bank of Canada by 16.7% in the second quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock worth $2,141,681,000 after buying an additional 2,901,033 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Royal Bank of Canada by 165.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider’s stock valued at $361,532,000 after acquiring an additional 1,804,022 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Royal Bank of Canada in the third quarter worth $153,217,000. Finally, Geode Capital Management LLC raised its position in shares of Royal Bank of Canada by 9.3% in the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock worth $805,616,000 after buying an additional 541,760 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Price Performance

Shares of NYSE:RY opened at $120.72 on Tuesday. The stock’s 50-day moving average is $124.00 and its 200 day moving average is $117.38. The company has a market cap of $170.66 billion, a PE ratio of 14.62, a P/E/G ratio of 1.86 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. Royal Bank of Canada has a 1 year low of $93.97 and a 1 year high of $128.05.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be paid a $1.0522 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio is presently 52.91%.

Wall Street Analysts Forecast Growth

RY has been the topic of a number of research analyst reports. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. StockNews.com upgraded shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a research report on Friday. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. Finally, BMO Capital Markets decreased their price target on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.50.

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.