Royal Bank of Canada (NYSE:RY) Upgraded to Overweight at Barclays

Barclays upgraded shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) from an equal weight rating to an overweight rating in a research report report published on Thursday, Marketbeat Ratings reports.

A number of other research analysts have also recently commented on RY. BMO Capital Markets upped their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Trading Down 0.0 %

Shares of RY stock opened at $125.08 on Thursday. The stock’s 50-day moving average price is $123.39 and its 200-day moving average price is $114.74. Royal Bank of Canada has a 12-month low of $85.02 and a 12-month high of $126.96. The stock has a market capitalization of $176.82 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 1.93 and a beta of 0.86. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last announced its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The company had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. Equities research analysts predict that Royal Bank of Canada will post 8.37 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Thursday, October 24th were given a dividend of $1.028 per share. This represents a $4.11 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is presently 50.67%.

Institutional Trading of Royal Bank of Canada

Large investors have recently added to or reduced their stakes in the company. Shell Asset Management Co. boosted its holdings in Royal Bank of Canada by 3.8% in the first quarter. Shell Asset Management Co. now owns 2,711 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 100 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Royal Bank of Canada by 15.0% during the first quarter. EP Wealth Advisors LLC now owns 3,052 shares of the financial services provider’s stock worth $308,000 after acquiring an additional 397 shares during the period. Advisors Asset Management Inc. raised its position in Royal Bank of Canada by 29.0% during the first quarter. Advisors Asset Management Inc. now owns 2,953 shares of the financial services provider’s stock valued at $298,000 after acquiring an additional 664 shares in the last quarter. Capital Research Global Investors lifted its holdings in Royal Bank of Canada by 1.1% in the first quarter. Capital Research Global Investors now owns 345,156 shares of the financial services provider’s stock valued at $34,812,000 after acquiring an additional 3,639 shares during the period. Finally, Tremblant Capital Group boosted its position in Royal Bank of Canada by 71.8% in the 1st quarter. Tremblant Capital Group now owns 13,429 shares of the financial services provider’s stock worth $1,355,000 after purchasing an additional 5,612 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

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.