Royal Bank of Canada (NYSE:RY) Downgraded to “Sell” Rating by StockNews.com

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

Several other analysts have also commented on RY. 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. BMO Capital Markets lowered 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 lowered Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Moderate Buy” and an average target price of $156.50.

Royal Bank of Canada Trading Down 0.0 %

Shares of NYSE:RY opened at $120.51 on Wednesday. The company has a market capitalization 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 12-month low of $93.97 and a 12-month high of $128.05. The business has a 50 day moving average of $123.28 and a two-hundred day moving average of $118.14. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be paid a $1.0522 dividend. The ex-dividend date of this dividend is Monday, January 27th. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.03. This represents a $4.21 dividend on an annualized basis and a yield of 3.49%. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 52.91%.

Institutional Trading of Royal Bank of Canada

A number of institutional investors have recently made changes to their positions in the company. FMR LLC raised its holdings in Royal Bank of Canada by 75.8% in the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock valued at $2,229,834,000 after acquiring an additional 7,702,585 shares during the last quarter. National Bank of Canada FI grew its position in shares of Royal Bank of Canada by 16.7% in the second quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock valued at $2,141,681,000 after purchasing an additional 2,901,033 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Royal Bank of Canada by 165.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider’s stock valued at $361,532,000 after purchasing an additional 1,804,022 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Royal Bank of Canada during the third quarter worth approximately $153,217,000. Finally, Geode Capital Management LLC boosted its stake in Royal Bank of Canada by 9.3% during the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock worth $805,616,000 after buying an additional 541,760 shares during the last quarter. 45.31% of the stock is 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.