Royal Bank of Canada (NYSE:RY) Upgraded by StockNews.com to Hold Rating

Royal Bank of Canada (NYSE:RY) (TSE:RY) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

A number of other analysts have also recently commented on RY. Barclays upgraded Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. BMO Capital Markets decreased their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. Finally, TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Trading Up 0.8 %

NYSE:RY opened at $120.72 on Friday. Royal Bank of Canada has a one year low of $93.97 and a one year high of $128.05. The business has a fifty day moving average price of $124.00 and a 200-day moving average price of $117.31. The firm has a market capitalization of $170.66 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86.

Institutional Investors Weigh In On Royal Bank of Canada

Institutional investors have recently added to or reduced their stakes in the stock. Addison Advisors LLC increased its holdings in shares of Royal Bank of Canada by 9.5% in the third quarter. Addison Advisors LLC now owns 945 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 82 shares during the last quarter. Mount Yale Investment Advisors LLC grew its holdings in Royal Bank of Canada by 1.6% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 5,823 shares of the financial services provider’s stock valued at $619,000 after buying an additional 92 shares in the last quarter. Drive Wealth Management LLC increased its stake in 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 worth $349,000 after acquiring an additional 92 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Royal Bank of Canada by 1.6% during the 3rd quarter. Private Advisor Group LLC now owns 6,160 shares of the financial services provider’s stock worth $768,000 after acquiring an additional 95 shares in the last quarter. Finally, HB Wealth Management LLC boosted its position in shares of Royal Bank of Canada by 1.9% during the 2nd quarter. HB Wealth Management LLC now owns 5,287 shares of the financial services provider’s stock valued at $562,000 after acquiring an additional 100 shares during the last quarter. 45.31% of the stock is owned by hedge funds and other institutional investors.

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.