Royal Bank Of Canada (NYSE:RY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Saturday.

According to Zacks, “ROYAL BANK of Canada operate under the master brand name of RBC. They are Canada’s largest bank as measured by assets and market capitalization, and one of North America’s leading diversified financial services companies. They provide personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services on a global basis. They have employee approximately Seventy Thousant full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 36 other countries. “

A number of other research analysts also recently commented on RY. Canaccord Genuity reaffirmed a “hold” rating on shares of Royal Bank Of Canada in a research note on Tuesday, July 19th. Citigroup Inc. boosted their price target on Royal Bank Of Canada from $88.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, August 15th. Barclays PLC reaffirmed an “underweight” rating and issued a $72.00 price target (up previously from $67.00) on shares of Royal Bank Of Canada in a research note on Sunday, August 21st. Argus reaffirmed a “buy” rating and issued a $71.00 price target (up previously from $69.00) on shares of Royal Bank Of Canada in a research note on Thursday, August 25th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 25th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $83.70.

Analyst Recommendations for Royal Bank Of Canada (NYSE:RY)

Royal Bank Of Canada (NYSE:RY) opened at 63.47 on Friday. Royal Bank Of Canada has a 52-week low of $44.37 and a 52-week high of $64.31. The firm’s 50-day moving average is $62.35 and its 200-day moving average is $61.33. The firm has a market capitalization of $94.17 billion, a P/E ratio of 12.39 and a beta of 1.19.

Royal Bank Of Canada (NYSE:RY) last posted its quarterly earnings results on Wednesday, August 24th. The company reported $1.72 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.39. The business earned $10.26 billion during the quarter, compared to the consensus estimate of $7.27 billion. Royal Bank Of Canada had a return on equity of 16.36% and a net margin of 22.91%. During the same quarter in the previous year, the firm earned $1.66 earnings per share. On average, equities analysts expect that Royal Bank Of Canada will post $5.09 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 24th. Stockholders of record on Wednesday, October 26th will be issued a dividend of $0.6449 per share. This is a boost from Royal Bank Of Canada’s previous quarterly dividend of $0.62. This represents a $2.58 annualized dividend and a dividend yield of 4.06%. The ex-dividend date is Monday, October 24th. Royal Bank Of Canada’s payout ratio is 50.60%.

Hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC raised its position in Royal Bank Of Canada by 32.4% in the second quarter. Signaturefd LLC now owns 1,867 shares of the company’s stock worth $110,000 after buying an additional 457 shares in the last quarter. Pacad Investment Ltd. bought a new position in Royal Bank Of Canada during the second quarter worth approximately $130,000. Americafirst Capital Management LLC bought a new position in Royal Bank Of Canada during the second quarter worth approximately $139,000. Jolley Asset Management LLC raised its position in Royal Bank Of Canada by 14.3% in the second quarter. Jolley Asset Management LLC now owns 2,400 shares of the company’s stock worth $142,000 after buying an additional 300 shares in the last quarter. Finally, Integrated Wealth Management raised its position in Royal Bank Of Canada by 49.3% in the second quarter. Integrated Wealth Management now owns 2,573 shares of the company’s stock worth $152,000 after buying an additional 850 shares in the last quarter. Institutional investors own 45.04% of the company’s stock.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

5 Day Chart for NYSE:RY

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