Royal Bank Of Canada (NYSE:RY) Cut to Hold at Zacks Research

Zacks Research lowered shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) from a strong-buy rating to a hold rating in a report published on Tuesday morning,Zacks.com reports.

Several other research analysts also recently commented on RY. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, January 9th. Jefferies Financial Group downgraded Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Wall Street Zen upgraded Royal Bank Of Canada from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Raymond James Financial began coverage on shares of Royal Bank Of Canada in a research note on Monday, November 24th. They issued a “moderate buy” rating for the company. Finally, UBS Group reiterated a “buy” rating on shares of Royal Bank Of Canada in a report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Trading Down 0.8%

Shares of RY opened at $168.65 on Tuesday. The firm has a market capitalization of $235.69 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 1.21 and a beta of 0.79. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.81 and a quick ratio of 0.81. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $174.61. The company has a 50-day moving average of $167.33 and a 200 day moving average of $151.39.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.25. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. The business had revenue of $12.27 billion for the quarter, compared to the consensus estimate of $12.12 billion. During the same period in the prior year, the firm earned $3.07 EPS. The company’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, research analysts expect that Royal Bank Of Canada will post 9.16 EPS for the current year.

Royal Bank Of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Monday, January 26th will be given a dividend of $1.64 per share. The ex-dividend date of this dividend is Monday, January 26th. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $1.54. This represents a $6.56 annualized dividend and a dividend yield of 3.9%. Royal Bank Of Canada’s payout ratio is currently 47.66%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Tradewinds Capital Management LLC acquired a new stake in Royal Bank Of Canada in the fourth quarter valued at approximately $26,000. Johnson Financial Group Inc. purchased a new stake in shares of Royal Bank Of Canada during the 3rd quarter valued at $27,000. Toth Financial Advisory Corp purchased a new stake in shares of Royal Bank Of Canada during the 3rd quarter valued at $29,000. Highline Wealth Partners LLC boosted its position in shares of Royal Bank Of Canada by 75.4% in the 4th quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 89 shares in the last quarter. Finally, True Wealth Design LLC purchased a new position in Royal Bank Of Canada during the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

About Royal Bank Of Canada

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.