Royal Bank Of Canada (NYSE:RY) Upgraded to Buy at Erste Group Bank

Key Points

• The Royal Bank Of Canada was upgraded from a "hold" to a "buy" rating by Erste Group Bank, indicating a favorable outlook for the stock.
• Despite the upgrade, Cibc World Markets downgraded the bank from "strong-buy" to "hold," reflecting mixed analyst sentiment, with five analysts rating it as "buy" and six as "hold."
• The bank reported earnings of $2.79 per share, exceeding estimates, while year-over-year revenue increased by 16.1%, showcasing strong financial performance.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY was upgraded by equities research analysts at Erste Group Bank from a "hold" rating to a "buy" rating in a research report issued on Monday, Marketbeat.com reports.

RY has been the topic of a number of other reports. BMO Capital Markets reissued an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Cowen reissued a "hold" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Wall Street Zen raised shares of Royal Bank Of Canada from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Barclays reaffirmed an "overweight" rating on shares of Royal Bank Of Canada in a report on Thursday, August 14th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $177.50.

Royal Bank Of Canada Stock Up 1.0%

Shares of RY stock traded up $1.46 during trading hours on Monday, reaching $148.72. 970,812 shares of the company's stock were exchanged, compared to its average volume of 945,742. The stock's 50 day moving average is $137.93 and its 200-day moving average is $127.30. The company has a market cap of $209.00 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 1.51 and a beta of 0.88. 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 fifty-two week low of $106.10 and a fifty-two week high of $148.81.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last issued its quarterly earnings results on Wednesday, August 27th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.43. The business had revenue of $12.26 billion for the quarter, compared to the consensus estimate of $16.03 billion. Royal Bank Of Canada had a return on equity of 16.12% and a net margin of 14.03%.The business's quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.26 earnings per share. Analysts predict that Royal Bank Of Canada will post 9.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RY. Caldwell Trust Co acquired a new position in shares of Royal Bank Of Canada during the 2nd quarter worth about $187,000. Valeo Financial Advisors LLC acquired a new position in shares of Royal Bank Of Canada during the 2nd quarter worth about $210,000. Osaic Holdings Inc. raised its position in shares of Royal Bank Of Canada by 104.6% during the 2nd quarter. Osaic Holdings Inc. now owns 75,866 shares of the financial services provider's stock worth $9,136,000 after purchasing an additional 38,794 shares during the last quarter. Orion Porfolio Solutions LLC raised its position in shares of Royal Bank Of Canada by 11.6% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 22,154 shares of the financial services provider's stock worth $2,914,000 after purchasing an additional 2,310 shares during the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of Royal Bank Of Canada by 9.4% during the 2nd quarter. Squarepoint Ops LLC now owns 31,897 shares of the financial services provider's stock worth $4,196,000 after purchasing an additional 2,740 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.