2,034 Shares in Royal Bank of Canada (NYSE:RY) Acquired by Synovus Financial Corp

Synovus Financial Corp acquired a new stake in Royal Bank of Canada (NYSE:RY) (TSE:RY) during the 3rd quarter, Holdings Channel reports. The institutional investor acquired 2,034 shares of the financial services provider’s stock, valued at approximately $254,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RY. Capital Performance Advisors LLP bought a new position in shares of Royal Bank of Canada in the third quarter worth about $25,000. Dunhill Financial LLC purchased a new stake in Royal Bank of Canada in the 3rd quarter valued at about $25,000. Larson Financial Group LLC bought a new position in Royal Bank of Canada in the 3rd quarter worth about $26,000. Ridgewood Investments LLC purchased a new position in shares of Royal Bank of Canada during the second quarter worth approximately $27,000. Finally, Grove Bank & Trust bought a new stake in shares of Royal Bank of Canada during the third quarter valued at approximately $28,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on RY shares. TD Securities cut Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Barclays raised 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 objective on Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Trading Down 3.1 %

Shares of NYSE:RY opened at $119.84 on Thursday. The company has a market capitalization of $169.41 billion, a PE ratio of 14.51, a P/E/G ratio of 1.86 and a beta of 0.86. 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 business’s fifty day simple moving average is $124.10 and its 200-day simple moving average is $117.14.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be issued a $1.0522 dividend. The ex-dividend date is Monday, January 27th. 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 3.51%. Royal Bank of Canada’s payout ratio is currently 52.91%.

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.