UBS Group Begins Coverage on Royal Bank of Canada (NYSE:RY)

Stock analysts at UBS Group started coverage on shares of Royal Bank of Canada (NYSE:RYGet Free Report) (TSE:RY) in a research report issued on Tuesday, Briefing.com reports. The brokerage set a “buy” rating on the financial services provider’s stock.

A number of other research analysts have also recently issued reports on the company. Scotiabank raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Friday, May 17th. Jefferies Financial Group raised shares of Royal Bank of Canada from a “hold” rating to a “buy” rating in a research note on Monday, May 13th. Barclays assumed coverage on shares of Royal Bank of Canada in a research note on Wednesday, March 20th. They set an “equal weight” rating on the stock. BMO Capital Markets cut shares of Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 31st. Finally, Argus boosted their price objective on shares of Royal Bank of Canada from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.25.

Read Our Latest Stock Report on Royal Bank of Canada

Royal Bank of Canada Stock Performance

NYSE:RY opened at $105.98 on Tuesday. The stock has a market capitalization of $149.97 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 1.67 and a beta of 0.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. Royal Bank of Canada has a 1 year low of $77.90 and a 1 year high of $109.51. The firm has a 50 day moving average of $103.86 and a 200-day moving average of $100.76.

Royal Bank of Canada (NYSE:RYGet Free Report) (TSE:RY) last released its quarterly earnings results on Thursday, May 30th. The financial services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. The firm had revenue of $10.43 billion during the quarter, compared to analysts’ expectations of $9.95 billion. Royal Bank of Canada had a return on equity of 14.87% and a net margin of 12.12%. As a group, sell-side analysts anticipate that Royal Bank of Canada will post 8.47 EPS for the current fiscal year.

Institutional Trading of Royal Bank of Canada

A number of institutional investors have recently bought and sold shares of RY. Stifel Financial Corp grew its holdings in Royal Bank of Canada by 3.9% during the 3rd quarter. Stifel Financial Corp now owns 21,680 shares of the financial services provider’s stock worth $1,896,000 after acquiring an additional 820 shares during the period. Trexquant Investment LP acquired a new stake in Royal Bank of Canada during the 3rd quarter worth $1,167,000. Glenmede Trust Co. NA grew its holdings in shares of Royal Bank of Canada by 16.8% in the 3rd quarter. Glenmede Trust Co. NA now owns 4,298 shares of the financial services provider’s stock valued at $376,000 after buying an additional 618 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Royal Bank of Canada by 1.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,903,752 shares of the financial services provider’s stock valued at $516,224,000 after buying an additional 105,776 shares during the period. Finally, Scotia Capital Inc. grew its holdings in shares of Royal Bank of Canada by 1.3% in the 3rd quarter. Scotia Capital Inc. now owns 8,511,219 shares of the financial services provider’s stock valued at $743,010,000 after buying an additional 106,461 shares during the period. Institutional investors and hedge funds own 45.31% of the company’s stock.

Royal Bank of Canada Company Profile

(Get Free Report)

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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