Basswood Capital Management L.L.C. Takes $3.54 Million Position in Royal Bank of Canada (NYSE:RY)

Basswood Capital Management L.L.C. bought a new position in shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 28,335 shares of the financial services provider’s stock, valued at approximately $3,536,000.

Several other large investors have also recently bought and sold shares of RY. FMR LLC raised its holdings in Royal Bank of Canada by 75.8% during the third quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock worth $2,229,834,000 after purchasing an additional 7,702,585 shares in the last quarter. National Bank of Canada FI raised its stake in Royal Bank of Canada by 16.7% during the 2nd 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 acquiring an additional 2,901,033 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Royal Bank of Canada by 165.1% in 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 during the last quarter. International Assets Investment Management LLC acquired a new position in Royal Bank of Canada in the third quarter valued at $153,217,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Royal Bank of Canada by 18.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,336,354 shares of the financial services provider’s stock worth $291,925,000 after purchasing an additional 359,719 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Stock Up 0.3 %

Royal Bank of Canada stock opened at $125.67 on Monday. The stock has a 50 day moving average of $123.61 and a two-hundred day moving average of $115.48. Royal Bank of Canada has a twelve month low of $88.49 and a twelve month high of $126.96. The stock has a market capitalization of $177.66 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.86 and a beta of 0.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Wall Street Analyst Weigh In

RY has been the subject of a number of research analyst reports. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. BMO Capital Markets increased their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Barclays raised shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Royal Bank of Canada has a consensus rating of “Moderate Buy” and an average target price of $142.50.

Royal Bank of Canada 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.