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

Royal Bank of Canada (NYSE:RY) (TSE:RY) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other brokerages have also issued reports on RY. CIBC raised Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a research report on Friday, April 4th. Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $156.50.

Royal Bank of Canada Price Performance

RY opened at $119.76 on Friday. Royal Bank of Canada has a twelve month low of $101.96 and a twelve month high of $128.05. The firm has a market cap of $169.06 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 1.80 and a beta of 0.89. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $114.89 and a 200 day simple moving average of $119.43.

Institutional Trading of Royal Bank of Canada

Several institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Royal Bank of Canada by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock valued at $427,589,000 after buying an additional 64,450 shares during the period. Raymond James Financial Inc. acquired a new position in Royal Bank of Canada in the fourth quarter valued at approximately $60,034,000. Wealth High Governance Capital Ltda acquired a new position in Royal Bank of Canada in the fourth quarter valued at approximately $10,243,000. Jones Financial Companies Lllp raised its position in shares of Royal Bank of Canada by 1,322.0% during the 4th quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 3,728 shares during the period. Finally, APG Asset Management N.V. lifted its holdings in shares of Royal Bank of Canada by 1,600.9% in the 4th quarter. APG Asset Management N.V. now owns 1,427,075 shares of the financial services provider’s stock worth $166,084,000 after purchasing an additional 1,343,174 shares during the last quarter. Institutional investors own 45.31% of the company’s stock.

Royal Bank of Canada Company Profile

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.