As Royal Bk Cda Montreal Que (RY) Share Price Declined, Shareholder Cibc Asset Management INC Has Cut Its Holding by $17.55 Million

January 15, 2018 - By Vivian Currie

Cibc Asset Management Inc decreased its stake in Royal Bk Cda Montreal Que (RY) by 1.51% based on its latest 2017Q3 regulatory filing with the SEC. Cibc Asset Management Inc sold 227,982 shares as the company’s stock declined 9.02% while stock markets rallied. The institutional investor held 14.84 million shares of the commercial banks company at the end of 2017Q3, valued at $1.15 billion, down from 15.07M at the end of the previous reported quarter. Cibc Asset Management Inc who had been investing in Royal Bk Cda Montreal Que for a number of months, seems to be less bullish one the $120.67B market cap company. The stock increased 0.56% or $0.47 during the last trading session, reaching $84.35. About 502,343 shares traded. Royal Bank of Canada (NYSE:RY) has risen 16.29% since January 15, 2017 and is uptrending. It has underperformed by 0.41% the S&P500.

Cibc Asset Management Inc, which manages about $15.98B US Long portfolio, upped its stake in Cdn Imperial Bk Comm Toronto (NYSE:CM) by 672,414 shares to 8.40M shares, valued at $733.26 million in 2017Q3, according to the filing. It also increased its holding in Alamos Gold Inc New by 2.05 million shares in the quarter, for a total of 2.97M shares, and has risen its stake in Ishares Tr (EEM).

Analysts await Royal Bank of Canada (NYSE:RY) to report earnings on February, 23. They expect $1.52 EPS, up 8.57 % or $0.12 from last year’s $1.4 per share. RY’s profit will be $2.17 billion for 13.87 P/E if the $1.52 EPS becomes a reality. After $1.54 actual EPS reported by Royal Bank of Canada for the previous quarter, Wall Street now forecasts -1.30 % negative EPS growth.

More notable recent Royal Bank of Canada (NYSE:RY) news were published by: Cbc.ca which released: “Royal Bank hit with rolling online outages, problems logging in” on January 03, 2018, also Reuters.com with their article: “UPDATE 3-Royal Bank of Canada boss sees greater chance NAFTA may be scrapped” published on January 09, 2018, Bnn.ca published: “RBC, TD, CIBC hike mortgage rates ahead of Bank of Canada rate decision” on January 12, 2018. More interesting news about Royal Bank of Canada (NYSE:RY) were released by: Business.Financialpost.com and their article: “RBC boss says chances of NAFTA being scrapped are rising” published on January 09, 2018 as well as Business.Financialpost.com‘s news article titled: “Waste management firm GFL said to hire RBC, Goldman, BMO for IPO” with publication date: January 09, 2018.

Royal Bank of Canada (NYSE:RY) Ratings Coverage

Among 11 analysts covering Royal Bank Of Canada (NYSE:RY), 4 have Buy rating, 2 Sell and 5 Hold. Therefore 36% are positive. Royal Bank Of Canada had 18 analyst reports since August 4, 2015 according to SRatingsIntel. The rating was downgraded by Rafferty to “Hold” on Thursday, December 1. The rating was maintained by Argus Research on Monday, December 12 with “Buy”. The stock of Royal Bank of Canada (NYSE:RY) has “Buy” rating given on Thursday, August 27 by Bank of America. Keefe Bruyette & Woods upgraded the shares of RY in report on Monday, February 27 to “Mkt Perform” rating. TD Securities downgraded the shares of RY in report on Monday, April 3 to “Hold” rating. On Monday, November 21 the stock rating was upgraded by TD Securities to “Buy”. Citigroup maintained it with “Buy” rating and $89 target in Monday, August 15 report. The company was downgraded on Saturday, August 22 by Zacks. The stock has “Buy” rating by Argus Research on Friday, July 1. Argus Research maintained Royal Bank of Canada (NYSE:RY) on Thursday, August 25 with “Buy” rating.

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