Royal Bank Of Canada $RY Stake Trimmed by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. reduced its position in Royal Bank Of Canada (NYSE:RY) (TSE:RY) by 0.4% in the second quarter, HoldingsChannel.com reports. The firm owned 892,539 shares of the financial services provider’s stock after selling 3,200 shares during the period. Royal Bank Of Canada accounts for approximately 4.5% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its 2nd biggest holding. Cardinal Capital Management Inc.’s holdings in Royal Bank Of Canada were worth $184,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd bought a new stake in shares of Royal Bank Of Canada during the 4th quarter valued at $25,000. Key Financial Inc increased its stake in Royal Bank Of Canada by 63.0% in the 1st quarter. Key Financial Inc now owns 163 shares of the financial services provider’s stock worth $26,000 after buying an additional 63 shares in the last quarter. Maseco LLP increased its stake in Royal Bank Of Canada by 355.0% in the 1st quarter. Maseco LLP now owns 182 shares of the financial services provider’s stock worth $29,000 after buying an additional 142 shares in the last quarter. Johnson Financial Group Inc. bought a new stake in Royal Bank Of Canada during the third quarter valued at about $27,000. Finally, Cornerstone Planning Group LLC raised its holdings in Royal Bank Of Canada by 55.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 247 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 88 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

Royal Bank Of Canada Stock Down 0.1%

Shares of RY stock opened at $210.52 on Wednesday. The stock has a market cap of $291.91 billion, a P/E ratio of 18.91, a PEG ratio of 1.67 and a beta of 0.80. Royal Bank Of Canada has a 52 week low of $133.66 and a 52 week high of $218.57. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $206.13 and its two-hundred day simple moving average is $184.34.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings data on Thursday, May 28th. The financial services provider reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.81 by $0.03. Royal Bank Of Canada had a return on equity of 17.68% and a net margin of 15.92%.The firm had revenue of $12.84 billion during the quarter, compared to analyst estimates of $12.74 billion. During the same quarter last year, the business posted $3.12 earnings per share. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. Analysts predict that Royal Bank Of Canada will post 11.41 EPS for the current fiscal year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, July 27th will be paid a dividend of $1.76 per share. The ex-dividend date of this dividend is Monday, July 27th. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $1.64. This represents a $7.04 dividend on an annualized basis and a yield of 3.3%. Royal Bank Of Canada’s dividend payout ratio is currently 44.56%.

Key Royal Bank Of Canada News

Here are the key news stories impacting Royal Bank Of Canada this week:

• Positive Sentiment: Moneris sale strengthens capital flexibility. RBC and Bank of Montreal agreed to sell payments processor Moneris Solutions to Francisco Partners for approximately C$2 billion in cash. The proceeds could give RBC additional capacity for share buybacks, acquisitions, balance-sheet investment or other capital deployment. RBC and BMO sell Moneris for $2 billion
• Positive Sentiment: FY2027 earnings expectations increased. Erste Group raised its forecast for RBC’s fiscal 2027 earnings to $12.57 per share from $12.41, signaling improving confidence in the bank’s profit outlook. The revised estimate is also above the broader current-year consensus of $11.41 per share. Analyst raises RBC earnings estimate
• Positive Sentiment: Asset-management and ETF offerings continue to expand. RBC’s alliance with BlackRock launched two TSX-listed ETFs, adding international-equity and equity-plus-bitcoin products. The launches may support long-term fee-based asset growth and strengthen RBC’s investment-product distribution platform. RBC iShares launches two new ETFs
• Neutral Sentiment: RBC is reopening a large bond fund. RBC Global Asset Management is accepting new investors into a C$13.9 billion bond fund as Canadian high-yield issuance increases. This could benefit management-fee revenue, but the direct earnings impact is not quantified. RBC reopens bond fund
• Negative Sentiment: Moneris divestiture removes a strategic payments asset. Although the cash proceeds are favorable, RBC will give up future earnings and growth exposure from Moneris. The impact will depend on how effectively management redeploys the capital.
• Neutral Sentiment: RBC executives’ participation in an upcoming Milken Toronto event and a C$1 million RBC Foundation education initiative enhance visibility and social impact but are unlikely to drive near-term financial results.

Wall Street Analyst Weigh In

RY has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of Royal Bank Of Canada in a research note on Friday, May 29th. Raymond James Financial downgraded Royal Bank Of Canada from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 12th. Weiss Ratings raised Royal Bank Of Canada from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday, July 29th. Argus set a $225.00 price target on Royal Bank Of Canada in a research note on Thursday, June 11th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Royal Bank Of Canada in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.00.

About Royal Bank Of Canada

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.