Royal Bank Of Canada (NYSE:RY) Reaches New 1-Year High on Analyst Upgrade

Royal Bank Of Canada (NYSE:RY) (TSE:RY) reached a new 52-week high during mid-day trading on Tuesday after Natl Bk Canada upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $155.12 and last traded at $154.4240, with a volume of 1049424 shares traded. The stock had previously closed at $152.89.

Other research analysts have also recently issued reports about the company. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. National Bankshares reaffirmed a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a research note on Monday, November 24th. Finally, Raymond James Financial assumed coverage on Royal Bank Of Canada in a report on Monday, November 24th. They set a “moderate buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Royal Bank Of Canada currently has a consensus rating of “Moderate Buy” and an average price target of $177.50.

Institutional Investors Weigh In On Royal Bank Of Canada

Several large investors have recently modified their holdings of the company. Johnson Financial Group Inc. acquired a new position in Royal Bank Of Canada in the third quarter valued at $27,000. Toth Financial Advisory Corp acquired a new stake in Royal Bank Of Canada during the 3rd quarter worth about $29,000. True Wealth Design LLC bought a new position in shares of Royal Bank Of Canada in the 3rd quarter worth about $31,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Royal Bank Of Canada in the 1st quarter valued at about $32,000. Finally, Atlantic Union Bankshares Corp bought a new stake in shares of Royal Bank Of Canada during the 3rd quarter valued at about $38,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

Royal Bank Of Canada Trading Up 1.0%

The firm has a 50-day moving average of $147.59 and a 200 day moving average of $138.80. The company has a market cap of $216.29 billion, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11.

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.