Royal Bank of Canada (NYSE:RY) Lowered to “Hold” Rating by TD Securities

Royal Bank of Canada (NYSE:RY) (TSE:RY) was downgraded by TD Securities from a “buy” rating to a “hold” rating in a note issued to investors on Friday,Briefing.com Automated Import reports.

Several other research analysts have also weighed in on the stock. BMO Capital Markets increased their target price on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. StockNews.com lowered Royal Bank of Canada from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Stock Performance

Shares of NYSE:RY opened at $122.39 on Friday. The business’s 50 day moving average price is $123.34 and its 200-day moving average price is $113.49. Royal Bank of Canada has a 1 year low of $85.02 and a 1 year high of $126.96. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.87 and a quick ratio of 0.87. The firm has a market capitalization of $173.02 billion, a PE ratio of 14.80, a P/E/G ratio of 1.89 and a beta of 0.86.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last issued its earnings results on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. The business had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. As a group, equities research analysts expect that Royal Bank of Canada will post 8.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC lifted its position in shares of Royal Bank of Canada by 75.8% during the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider’s stock worth $2,229,834,000 after purchasing an additional 7,702,585 shares during the last quarter. National Bank of Canada FI lifted its holdings in Royal Bank of Canada by 16.7% during the 2nd quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider’s stock worth $2,141,681,000 after buying an additional 2,901,033 shares during the last quarter. Capital World Investors boosted its position in shares of Royal Bank of Canada by 75.0% during the 1st quarter. Capital World Investors now owns 6,320,246 shares of the financial services provider’s stock worth $637,460,000 after acquiring an additional 2,708,534 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 3rd 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 acquiring an additional 1,804,022 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Royal Bank of Canada by 40.5% during the first quarter. Canada Pension Plan Investment Board now owns 5,039,171 shares of the financial services provider’s stock worth $508,739,000 after purchasing an additional 1,452,127 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

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.