Royal Bank of Canada (NYSE:RY) Raised to “Hold” at StockNews.com

Royal Bank of Canada (NYSE:RY – Get Rating) (TSE:RY) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

Several other analysts have also issued reports on RY. Scotiabank dropped their price objective on Royal Bank of Canada from C$150.00 to C$147.00 in a research note on Friday, May 20th. BMO Capital Markets dropped their price objective on Royal Bank of Canada from C$142.00 to C$140.00 in a research note on Friday, May 27th. TD Securities dropped their price objective on Royal Bank of Canada from C$150.00 to C$145.00 in a research note on Friday, May 27th. CIBC upgraded Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research note on Monday, April 11th. Finally, Credit Suisse Group dropped their price objective on Royal Bank of Canada from C$153.00 to C$152.00 in a research note on Friday, May 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Royal Bank of Canada presently has a consensus rating of “Buy” and an average price target of $143.84.

RY opened at $100.61 on Friday. Royal Bank of Canada has a 52-week low of $95.02 and a 52-week high of $119.41. The firm has a market capitalization of $141.21 billion, a PE ratio of 11.01, a PEG ratio of 2.31 and a beta of 0.90. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.88 and a current ratio of 0.88. The business’s 50-day simple moving average is $103.65 and its 200 day simple moving average is $107.29.

Large investors have recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC acquired a new stake in Royal Bank of Canada during the fourth quarter worth approximately $37,000. Stonehage Fleming Financial Services Holdings Ltd grew its position in Royal Bank of Canada by 54.0% during the fourth quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 385 shares of the financial services provider’s stock worth $40,000 after buying an additional 135 shares in the last quarter. Allegheny Financial Group LTD acquired a new stake in shares of Royal Bank of Canada in the 4th quarter valued at $48,000. JFS Wealth Advisors LLC boosted its holdings in shares of Royal Bank of Canada by 272.4% in the 1st quarter. JFS Wealth Advisors LLC now owns 473 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 346 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Royal Bank of Canada in the 1st quarter valued at $55,000. 41.50% of the stock is currently owned by institutional investors and hedge funds.

About Royal Bank of Canada (Get Rating)

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.

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