Zacks Research Downgrades Royal Bank Of Canada (NYSE:RY) to Hold

Royal Bank Of Canada (NYSE:RY) (TSE:RY) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other analysts have also issued reports about the stock. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Friday, January 9th. National Bankshares restated an “outperform” rating on shares of Royal Bank Of Canada in a research note on Thursday, December 4th. TD Securities raised Royal Bank Of Canada from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Bank Of Canada in a report on Thursday, January 22nd. Finally, Jefferies Financial Group cut shares of Royal Bank Of Canada from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.00.

Royal Bank Of Canada Stock Down 0.8%

Royal Bank Of Canada stock traded down $1.37 on Tuesday, hitting $168.65. 1,100,544 shares of the stock traded hands, compared to its average volume of 1,487,048. Royal Bank Of Canada has a 1 year low of $106.10 and a 1 year high of $174.61. The firm has a market cap of $235.69 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 1.22 and a beta of 0.79. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.11. The business’s fifty day simple moving average is $167.02 and its 200 day simple moving average is $151.27.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last issued its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.25. Royal Bank Of Canada had a net margin of 14.83% and a return on equity of 16.83%. The company had revenue of $12.27 billion during the quarter, compared to analyst estimates of $12.12 billion. During the same period last year, the business earned $3.07 EPS. Royal Bank Of Canada’s quarterly revenue was up 14.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Royal Bank Of Canada will post 9.16 earnings per share for the current year.

Institutional Trading of Royal Bank Of Canada

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tradewinds Capital Management LLC bought a new stake in shares of Royal Bank Of Canada during the fourth quarter valued at approximately $26,000. Johnson Financial Group Inc. bought a new stake in Royal Bank Of Canada in the 3rd quarter valued at $27,000. Toth Financial Advisory Corp purchased a new stake in Royal Bank Of Canada in the 3rd quarter worth $29,000. True Wealth Design LLC purchased a new position in shares of Royal Bank Of Canada during the third quarter valued at about $31,000. Finally, Highline Wealth Partners LLC increased its holdings in shares of Royal Bank Of Canada by 75.4% in the fourth quarter. Highline Wealth Partners LLC now owns 207 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 89 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 (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.