Royal Bank of Canada (NYSE:RY) Rating Lowered to “Hold” at TD Securities

TD Securities downgraded shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) from a buy rating to a hold rating in a research note published on Friday morning, MarketBeat.com reports.

A number of other equities research analysts also recently commented on the company. BMO Capital Markets upped their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. StockNews.com downgraded shares of Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Stock Up 0.8 %

Shares of NYSE RY opened at $122.45 on Friday. Royal Bank of Canada has a 1 year low of $85.02 and a 1 year high of $126.96. The firm’s 50-day moving average is $123.36 and its 200-day moving average is $114.12. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $173.10 billion, a PE ratio of 14.81, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.23. The firm had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. Equities analysts expect that Royal Bank of Canada will post 8.88 EPS for the current year.

Royal Bank of Canada Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be issued a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.79%.

Institutional Trading of Royal Bank of Canada

Large investors have recently bought and sold shares of the business. Addison Advisors LLC increased its position in shares of Royal Bank of Canada by 9.5% during the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 82 shares in the last quarter. Mount Yale Investment Advisors LLC boosted its stake in Royal Bank of Canada by 1.6% in the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock worth $619,000 after purchasing an additional 92 shares during the period. Drive Wealth Management LLC raised its stake in shares of Royal Bank of Canada by 3.4% in the 3rd quarter. Drive Wealth Management LLC now owns 2,799 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 92 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Royal Bank of Canada by 1.6% in the third quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock valued at $768,000 after purchasing an additional 95 shares in the last quarter. Finally, Shell Asset Management Co. boosted its position in shares of Royal Bank of Canada by 3.8% during the first quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock worth $274,000 after buying an additional 100 shares during the period. 45.31% of the stock is owned by institutional investors.

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.