Royal Bank Of Canada (NYSE:RY) Stock Rating Lowered by Raymond James Financial

Royal Bank Of Canada (NYSE:RY) (TSE:RY) was downgraded by equities research analysts at Raymond James Financial from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports.

A number of other equities research analysts have also recently weighed in on RY. Zacks Research cut Royal Bank Of Canada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Scotiabank reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Monday, May 4th. Weiss Ratings reiterated a “buy (b+)” rating on shares of Royal Bank Of Canada in a research note on Monday, May 4th. Finally, Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research note on Thursday, February 19th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Stock Up 0.3%

NYSE:RY traded up $0.48 during midday trading on Tuesday, hitting $181.33. 376,765 shares of the company were exchanged, compared to its average volume of 1,495,317. Royal Bank Of Canada has a fifty-two week low of $120.66 and a fifty-two week high of $182.73. The company has a market capitalization of $253.44 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 1.37 and a beta of 0.80. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $169.13 and a 200 day simple moving average of $164.69.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings data on Thursday, February 26th. The financial services provider reported $2.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.13. Royal Bank Of Canada had a net margin of 15.28% and a return on equity of 17.12%. The company had revenue of $13.18 billion during the quarter, compared to the consensus estimate of $12.60 billion. During the same quarter in the prior year, the firm posted $3.62 earnings per share. Royal Bank Of Canada’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts anticipate that Royal Bank Of Canada will post 11.57 earnings per share for the current fiscal year.

Institutional Trading of Royal Bank Of Canada

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Royal Bank Of Canada by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 67,628,463 shares of the financial services provider’s stock valued at $11,529,165,000 after purchasing an additional 1,290,142 shares in the last quarter. FIL Ltd lifted its holdings in shares of Royal Bank Of Canada by 1.1% in the 4th quarter. FIL Ltd now owns 23,258,871 shares of the financial services provider’s stock valued at $3,965,133,000 after buying an additional 255,465 shares during the period. Norges Bank purchased a new stake in shares of Royal Bank Of Canada in the fourth quarter valued at approximately $3,472,382,000. Bank of Nova Scotia boosted its stake in shares of Royal Bank Of Canada by 1.6% in the fourth quarter. Bank of Nova Scotia now owns 15,233,532 shares of the financial services provider’s stock valued at $2,596,904,000 after buying an additional 238,589 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Royal Bank Of Canada by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 13,741,480 shares of the financial services provider’s stock worth $2,389,773,000 after acquiring an additional 882,253 shares during the period. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (NYSE: RY) is a diversified financial services company and one of Canada’s largest banks. Founded in 1864 in Halifax, Nova Scotia, the firm is now headquartered in Toronto, Ontario. It provides a broad range of banking and financial services to individuals, businesses, and institutional clients through a network of branches, digital platforms and international offices.

RBC operates across several principal business segments including personal and commercial banking, wealth management, insurance, investor and treasury services, capital markets, and global asset management.