Royal Bank of Canada (NYSE:RY) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) from a hold rating to a sell rating in a research note released on Wednesday morning.

Several other equities analysts have also commented on the company. BMO Capital Markets decreased their price target on 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. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, Barclays upgraded shares of Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Royal Bank of Canada presently has an average rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Down 0.0 %

RY stock opened at $120.51 on Wednesday. The firm has a market cap of $170.36 billion, a PE ratio of 14.59, a PEG ratio of 1.86 and a beta of 0.86. Royal Bank of Canada has a one year low of $93.97 and a one year high of $128.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50 day moving average price is $123.28 and its 200-day moving average price is $118.14.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a $1.0522 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s payout ratio is currently 52.91%.

Institutional Investors Weigh In On Royal Bank of Canada

A number of hedge funds have recently added to or reduced their stakes in RY. Rothschild Investment LLC purchased a new stake in Royal Bank of Canada during the 2nd quarter worth about $144,000. Commonwealth Equity Services LLC raised its holdings in Royal Bank of Canada by 2.1% in the second quarter. Commonwealth Equity Services LLC now owns 105,049 shares of the financial services provider’s stock valued at $11,175,000 after acquiring an additional 2,163 shares in the last quarter. Summit Financial LLC lifted its stake in Royal Bank of Canada by 8.9% in the second quarter. Summit Financial LLC now owns 3,361 shares of the financial services provider’s stock worth $358,000 after acquiring an additional 276 shares during the last quarter. Natixis Advisors LLC lifted its stake in Royal Bank of Canada by 8.8% in the second quarter. Natixis Advisors LLC now owns 117,608 shares of the financial services provider’s stock worth $12,511,000 after acquiring an additional 9,535 shares during the last quarter. Finally, Magnus Financial Group LLC acquired a new position in Royal Bank of Canada during the 2nd quarter worth approximately $204,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

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.