Royal Bank of Canada (NYSE:RY) Sees Strong Trading Volume

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) shares saw strong trading volume on Wednesday . 15,255 shares were traded during trading, a decline of 98% from the previous session’s volume of 658,085 shares.The stock last traded at $101.40 and had previously closed at $100.81.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Scotiabank lowered their price objective on shares of Royal Bank of Canada from C$147.00 to C$144.00 in a research report on Thursday, August 18th. Credit Suisse Group lowered their price objective on shares of Royal Bank of Canada from C$144.00 to C$143.00 in a research report on Thursday, August 25th. Desjardins reduced their target price on shares of Royal Bank of Canada from C$143.00 to C$141.00 in a report on Thursday, August 25th. Barclays started coverage on shares of Royal Bank of Canada in a report on Thursday, September 29th. They set an “overweight” rating on the stock. Finally, National Bank Financial boosted their target price on shares of Royal Bank of Canada from C$147.00 to C$148.00 in a report on Thursday, August 25th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Royal Bank of Canada presently has a consensus rating of “Hold” and a consensus price target of $139.81.

Royal Bank of Canada Stock Performance

The stock’s 50 day moving average price is $93.11 and its 200 day moving average price is $96.20. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $139.85 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 2.41 and a beta of 0.82.

Royal Bank of Canada (NYSE:RYGet Rating) (TSE:RY) last posted its quarterly earnings data on Wednesday, August 24th. The financial services provider reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.01. Royal Bank of Canada had a net margin of 26.29% and a return on equity of 16.85%. The company had revenue of $9.43 billion for the quarter. As a group, equities analysts expect that Royal Bank of Canada will post 8.41 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RY. CIBC Private Wealth Group LLC lifted its position in shares of Royal Bank of Canada by 185.6% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 277 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 180 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of Royal Bank of Canada by 56.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 290 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 105 shares during the period. SeaCrest Wealth Management LLC acquired a new position in shares of Royal Bank of Canada during the 2nd quarter valued at $29,000. Financial Management Professionals Inc. lifted its position in shares of Royal Bank of Canada by 64.9% during the 3rd quarter. Financial Management Professionals Inc. now owns 343 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 135 shares during the period. Finally, Venture Visionary Partners LLC acquired a new position in shares of Royal Bank of Canada during the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 40.46% of the company’s stock.

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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