Royal Bank of Canada (NYSE:RY) Rating Increased to Hold at StockNews.com

Royal Bank of Canada (NYSE:RY) (TSE:RY) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

RY has been the topic of a number of other reports. Cibc World Mkts raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 3rd. CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Friday, April 4th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Royal Bank of Canada has a consensus rating of “Buy” and a consensus price target of $156.50.

Royal Bank of Canada Trading Up 0.2 %

Royal Bank of Canada stock opened at $120.09 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50-day simple moving average of $115.04 and a 200 day simple moving average of $119.35. The stock has a market capitalization of $169.53 billion, a P/E ratio of 14.54, a PEG ratio of 1.80 and a beta of 0.89. Royal Bank of Canada has a 52 week low of $102.44 and a 52 week high of $128.05.

Institutional Investors Weigh In On Royal Bank of Canada

A number of institutional investors have recently modified their holdings of RY. CenterBook Partners LP raised its stake in Royal Bank of Canada by 351.0% in the 1st quarter. CenterBook Partners LP now owns 61,868 shares of the financial services provider’s stock worth $6,974,000 after purchasing an additional 48,150 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Royal Bank of Canada by 23.4% during the first quarter. Deutsche Bank AG now owns 2,036,417 shares of the financial services provider’s stock worth $229,545,000 after purchasing an additional 385,575 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Royal Bank of Canada by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,574,879 shares of the financial services provider’s stock valued at $402,634,000 after buying an additional 26,838 shares in the last quarter. ASR Vermogensbeheer N.V. bought a new stake in shares of Royal Bank of Canada in the first quarter valued at approximately $4,139,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in Royal Bank of Canada during the first quarter worth approximately $709,000. 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.