Royal Bank Of Canada (NYSE:RY) Upgraded by Erste Group Bank to Buy Rating

Erste Group Bank upgraded shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) from a hold rating to a buy rating in a report issued on Monday morning, MarketBeat Ratings reports.

Several other brokerages also recently weighed in on RY. Cowen reaffirmed a “hold” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 14th. Argus upped their target price on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. National Bank Financial downgraded shares of Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research note on Friday, May 30th. Finally, National Bankshares reissued a “sector perform” rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $177.50.

Royal Bank Of Canada Stock Up 1.0%

Shares of NYSE RY opened at $148.72 on Monday. The firm’s 50-day moving average price is $137.93 and its 200-day moving average price is $127.30. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $209.00 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 1.51 and a beta of 0.88. Royal Bank Of Canada has a 12-month low of $106.10 and a 12-month high of $148.81.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.43. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The company had revenue of $12.26 billion for the quarter, compared to analyst estimates of $16.03 billion. During the same period in the prior year, the company posted $3.26 EPS. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. On average, equities research analysts anticipate that Royal Bank Of Canada will post 9.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RY. Park Square Financial Group LLC bought a new position in shares of Royal Bank Of Canada during the fourth quarter worth about $25,000. Sunbelt Securities Inc. grew its stake in Royal Bank Of Canada by 2,272.7% during the first quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 250 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Royal Bank Of Canada during the first quarter worth approximately $32,000. Cullen Frost Bankers Inc. grew its stake in Royal Bank Of Canada by 295.4% during the first quarter. Cullen Frost Bankers Inc. now owns 344 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 257 shares during the period. Finally, AdvisorNet Financial Inc grew its stake in Royal Bank Of Canada by 93.7% in the first quarter. AdvisorNet Financial Inc now owns 368 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 178 shares during the period. 45.31% of the stock is owned by institutional investors and hedge funds.

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.