Keybank National Association OH Has $212,000 Stake in Royal Bank of Canada (NYSE:RY)

Posted by Defense World Staff on Aug 25th, 2023

Keybank National Association OH trimmed its stake in shares of Royal Bank of Canada (NYSE:RY – Free Report) (TSE:RY) by 6.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,221 shares of the financial services provider’s stock after selling 149 shares during the period. Keybank National Association OH’s holdings in Royal Bank of Canada were worth $212,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Syverson Strege & Co acquired a new position in shares of Royal Bank of Canada during the first quarter worth approximately $28,000. Delta Asset Management LLC TN bought a new stake in shares of Royal Bank of Canada during the fourth quarter worth approximately $29,000. Money Concepts Capital Corp bought a new stake in shares of Royal Bank of Canada during the fourth quarter worth approximately $38,000. Grey Fox Wealth Advisors LLC bought a new stake in shares of Royal Bank of Canada during the fourth quarter worth approximately $39,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Royal Bank of Canada during the first quarter worth approximately $72,000. 36.75% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank of Canada Stock Up 1.6 %

Shares of NYSE:RY opened at $90.31 on Friday. The company has a 50 day moving average price of $95.18 and a two-hundred day moving average price of $96.33. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89. Royal Bank of Canada has a 52 week low of $83.63 and a 52 week high of $104.72. The company has a market capitalization of $126.09 billion, a PE ratio of 11.87, a PEG ratio of 1.99 and a beta of 0.83.

Royal Bank of Canada (NYSE:RY – Get Free Report) (TSE:RY) last issued its quarterly earnings data on Thursday, May 25th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.12). Royal Bank of Canada had a return on equity of 15.36% and a net margin of 15.27%. The company had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.53 billion. Analysts forecast that Royal Bank of Canada will post 8.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RY has been the subject of a number of recent research reports. StockNews.com initiated coverage on shares of Royal Bank of Canada in a research note on Thursday, August 17th. They set a “hold” rating for the company. CIBC downgraded shares of Royal Bank of Canada from a “sector outperform” rating to a “neutral” rating in a research note on Tuesday, May 16th. Finally, Barclays upped their target price on shares of Royal Bank of Canada from $122.00 to $124.00 and gave the company an “underweight” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $139.40.

View Our Latest Analysis on Royal Bank of Canada

Royal Bank of Canada Company Profile

(Free Report)

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.