Royal Bank Of Canada (NYSE:RY) Raised to “Hold” at Wall Street Zen

Royal Bank Of Canada (NYSE:RY) (TSE:RY) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

RY has been the subject of several other reports. Erste Group Bank upgraded shares of Royal Bank Of Canada from a “hold” rating to a “buy” rating in a report on Monday, September 22nd. National Bankshares reissued a “sector perform” rating on shares of Royal Bank Of Canada in a research note on Friday, August 15th. Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. Cowen reiterated a “hold” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Finally, CIBC downgraded Royal Bank Of Canada from a “sector outperform” rating to a “neutral” rating in a research report on Friday, September 5th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of “Hold” and an average target price of $177.50.

Royal Bank Of Canada Stock Up 0.4%

RY opened at $146.45 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $205.56 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 1.48 and a beta of 0.86. Royal Bank Of Canada has a one year low of $106.10 and a one year high of $149.44. The business’s fifty day moving average is $145.76 and its two-hundred day moving average is $134.00.

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

Hedge Funds Weigh In On Royal Bank Of Canada

A number of institutional investors have recently made changes to their positions in the stock. Fortis Capital Advisors LLC acquired a new position in shares of Royal Bank Of Canada in the third quarter worth $212,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Royal Bank Of Canada by 11.9% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 52,694 shares of the financial services provider’s stock valued at $7,763,000 after purchasing an additional 5,597 shares during the period. Avantax Planning Partners Inc. purchased a new stake in shares of Royal Bank Of Canada in the third quarter valued at $207,000. Lorne Steinberg Wealth Management Inc. grew its position in shares of Royal Bank Of Canada by 4.1% in the third quarter. Lorne Steinberg Wealth Management Inc. now owns 126,917 shares of the financial services provider’s stock valued at $18,701,000 after purchasing an additional 5,013 shares during the period. Finally, Intact Investment Management Inc. grew its position in shares of Royal Bank Of Canada by 13.6% in the third quarter. Intact Investment Management Inc. now owns 821,808 shares of the financial services provider’s stock valued at $121,138,000 after purchasing an additional 98,540 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.