First Citizens Bank & Trust Co. Sells 1,034 Shares of Royal Bank of Canada (NYSE:RY)

First Citizens Bank & Trust Co. cut its stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,750 shares of the financial services provider’s stock after selling 1,034 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Royal Bank of Canada were worth $1,054,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of RY. Capital Performance Advisors LLP bought a new stake in Royal Bank of Canada in the third quarter worth $25,000. Dunhill Financial LLC bought a new stake in Royal Bank of Canada in the third quarter worth $25,000. Larson Financial Group LLC bought a new stake in Royal Bank of Canada in the third quarter worth $26,000. Grove Bank & Trust bought a new stake in Royal Bank of Canada in the third quarter worth $28,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after buying an additional 118 shares during the last quarter. 45.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RY. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research note on Thursday, November 21st. BMO Capital Markets reduced their target price on 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. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research note on Wednesday, January 1st. Finally, TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Stock Performance

Shares of Royal Bank of Canada stock opened at $122.62 on Monday. The firm has a market cap of $173.43 billion, a P/E ratio of 14.85, a P/E/G ratio of 1.81 and a beta of 0.87. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. Royal Bank of Canada has a 12 month low of $93.97 and a 12 month high of $128.05. The stock’s fifty day moving average price is $122.47 and its 200-day moving average price is $119.84.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be paid a dividend of $1.0522 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $4.21 annualized dividend and a dividend yield of 3.43%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 49.76%.

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.