National Bank Financial Downgrades Royal Bank of Canada (TSE:RY) to Sector Perform

Royal Bank of Canada (TSE:RY) (NYSE:RY) was downgraded by research analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a note issued to investors on Thursday, MarketBeat.com reports.

Several other research analysts also recently weighed in on the company. Cibc World Mkts upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. UBS Group decreased their price target on Royal Bank of Canada from C$198.00 to C$196.00 in a report on Thursday, May 22nd. National Bankshares set a C$179.00 price objective on shares of Royal Bank of Canada and gave the company an “outperform” rating in a research note on Thursday, May 22nd. Scotiabank upgraded shares of Royal Bank of Canada to a “strong-buy” rating in a research report on Thursday, May 15th. Finally, Jefferies Financial Group reduced their target price on shares of Royal Bank of Canada from C$195.00 to C$180.00 in a research note on Monday, April 21st. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of C$180.33.

Royal Bank of Canada Stock Up 0.9%

Shares of RY stock opened at C$173.88 on Thursday. The stock has a market capitalization of C$246.04 billion, a PE ratio of 15.15, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 52-week low of C$140.53 and a 52-week high of C$180.45. The stock’s 50-day moving average price is C$165.80 and its 200 day moving average price is C$169.49.

Insider Buying and Selling at Royal Bank of Canada

In other news, Director David Ian Mckay sold 20,304 shares of the firm’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of C$160.27, for a total value of C$3,254,042.89. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of C$174.06, for a total value of C$53,611.16. Over the last three months, insiders sold 62,330 shares of company stock valued at $10,312,755.

About Royal Bank of Canada

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.