Royal Bank Of Canada (NYSE:RY) Rating Increased to Strong-Buy at Natl Bk Canada

Royal Bank Of Canada (NYSE:RY) (TSE:RY) was upgraded by analysts at Natl Bk Canada from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on RY. BMO Capital Markets reiterated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. Cowen reaffirmed a “hold” rating on shares of Royal Bank Of Canada in a research note on Thursday, August 28th. Jefferies Financial Group downgraded shares of Royal Bank Of Canada from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Argus raised their price objective on Royal Bank Of Canada from $140.00 to $162.00 and gave the company a “buy” rating in a report on Friday, August 29th. Finally, Barclays restated an “overweight” rating on shares of Royal Bank Of Canada in a research report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.50.

Royal Bank Of Canada Stock Down 0.7%

RY stock opened at $152.99 on Monday. The stock has a market capitalization of $214.28 billion, a P/E ratio of 16.15, a price-to-earnings-growth ratio of 1.48 and a beta of 0.86. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $154.64. The firm has a 50-day moving average price of $147.46 and a 200-day moving average price of $138.59.

Institutional Investors Weigh In On Royal Bank Of Canada

Several large investors have recently modified their holdings of RY. Brighton Jones LLC boosted its position in Royal Bank Of Canada by 33.1% during the fourth quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 575 shares during the last quarter. LPL Financial LLC raised its position in shares of Royal Bank Of Canada by 3.5% in the 1st quarter. LPL Financial LLC now owns 142,392 shares of the financial services provider’s stock worth $16,050,000 after acquiring an additional 4,784 shares in the last quarter. TIAA Trust National Association lifted its stake in shares of Royal Bank Of Canada by 2.7% in the 1st quarter. TIAA Trust National Association now owns 11,768 shares of the financial services provider’s stock valued at $1,326,000 after purchasing an additional 310 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Royal Bank Of Canada by 4.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 86,847 shares of the financial services provider’s stock valued at $9,789,000 after purchasing an additional 3,358 shares in the last quarter. Finally, Earned Wealth Advisors LLC acquired a new stake in Royal Bank Of Canada during the first quarter worth approximately $200,000. 45.31% of the stock is currently owned by institutional investors and hedge funds.

About Royal Bank Of Canada

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.