Cardinal Capital Management Lowers stake in Royal Bank of Canada (RY)

Royal Bank of Canada (RY) : Cardinal Capital Management reduced its stake in Royal Bank of Canada by 1.98% during the most recent quarter end. The investment management company now holds a total of 900,891 shares of Royal Bank of Canada which is valued at $55,792,180 after selling 18,186 shares in Royal Bank of Canada , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.Royal Bank of Canada makes up approximately 6.33% of Cardinal Capital Management’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in RY by selling 2,416 shares or 39.07% in the most recent quarter. The Hedge Fund company now holds 3,768 shares of RY which is valued at $233,352.Eqis Capital Management reduced its stake in RY by selling 1,152 shares or 25.32% in the most recent quarter. The Hedge Fund company now holds 3,397 shares of RY which is valued at $210,376. Royal Bank of Canada makes up approx 0.01% of Eqis Capital Management’s portfolio.

Royal Bank of Canada closed down -0.27 points or -0.44% at $61.48 with 11,86,188 shares getting traded on Tuesday. Post opening the session at $61.61, the shares hit an intraday low of $61.152 and an intraday high of $61.92 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Royal Bank of Canada reported $1.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 24, 2016. Analyst had a consensus of $1.70.Analysts expectations of $ 9776.41.During the same quarter in the previous year, the company posted $1.66 EPS.

Investors should note that on Aug 24, 2016, Royal Bank of Canada announced a cash dividend of $0.8300. The company’s management has announced Oct 24, 2016 as the ex-dividend date and fixed the record date on Oct 26, 2016. The payable date has been fixed on Nov 24, 2016.

Many Wall Street Analysts have commented on Royal Bank of Canada. Royal Bank of Canada was Resumed by BofA/Merrill to “Underperform” on Jul 12, 2016.

Royal Bank of Canada (RBC) is a diversified financial services company. The Company provides personal and commercial banking wealth management services insurance investor services and capital markets products and services on a global basis. It operates in five segments: Personal & Commercial Banking which operates comprises its personal and business banking operations as well as its auto financing and retail investment businesses; Wealth Management which comprises Canadian Wealth Management United States and International Wealth Management and Global Asset Management (GAM); Insurance which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services which is a provider of asset servicing custody payments and treasury services and Capital Markets which comprises two business lines: Corporate and Investment Banking and Global Markets. It operates in three geographic segments: Canada United States and Other International.

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