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

Several other research firms have also issued reports on RY. BMO Capital Markets reiterated a “hold” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 25th. Argus restated a “buy” rating and set a $71.00 target price (up previously from $69.00) on shares of Royal Bank Of Canada in a report on Thursday, August 25th. TD Securities restated a “hold” rating and set a $86.00 target price (up previously from $81.00) on shares of Royal Bank Of Canada in a report on Friday, August 26th. Scotiabank restated an “outperform” rating and set a $86.00 target price (up previously from $85.00) on shares of Royal Bank Of Canada in a report on Friday, August 26th. Finally, Desjardins restated a “buy” rating and set a $86.00 target price on shares of Royal Bank Of Canada in a report on Friday, August 26th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given 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)

Shares of Royal Bank Of Canada (NYSE:RY) opened at 63.47 on Friday. The firm’s 50-day moving average price is $62.35 and its 200 day moving average price is $61.33. The firm has a market cap of $94.17 billion, a P/E ratio of 12.39 and a beta of 1.19. Royal Bank Of Canada has a 12-month low of $44.37 and a 12-month high of $64.31.

Royal Bank Of Canada (NYSE:RY) last released its quarterly earnings data on Wednesday, August 24th. The company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.39. Royal Bank Of Canada had a return on equity of 16.36% and a net margin of 22.91%. The firm earned $10.26 billion during the quarter, compared to analyst estimates of $7.27 billion. During the same period in the prior year, the company posted $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 fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 24th. Shareholders of record on Wednesday, October 26th will be paid a $0.6449 dividend. This is a positive change from Royal Bank Of Canada’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Monday, October 24th. This represents a $2.58 annualized dividend and a yield of 4.06%. Royal Bank Of Canada’s dividend payout ratio is presently 50.60%.

A number of institutional investors have recently added to or reduced their stakes in RY. Nomura Asset Management Co. Ltd. raised its position in Royal Bank Of Canada by 5.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 10,900 shares of the company’s stock valued at $674,000 after buying an additional 600 shares during the last quarter. Checchi Capital Advisers LLC raised its position in Royal Bank Of Canada by 1.0% in the third quarter. Checchi Capital Advisers LLC now owns 5,190 shares of the company’s stock valued at $322,000 after buying an additional 51 shares during the last quarter. BOKF NA bought a new position in Royal Bank Of Canada during the third quarter valued at $210,000. Alerus Financial NA raised its position in Royal Bank Of Canada by 5.4% in the third quarter. Alerus Financial NA now owns 29,756 shares of the company’s stock valued at $1,844,000 after buying an additional 1,535 shares during the last quarter. Finally, Riverhead Capital Management LLC raised its position in Royal Bank Of Canada by 179.4% in the third quarter. Riverhead Capital Management LLC now owns 17,700 shares of the company’s stock valued at $1,097,000 after buying an additional 11,364 shares during the last quarter. 45.04% of the stock is currently owned by hedge funds and other institutional investors.

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.

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