Royal Bank Of Canada (NYSE:RY) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Royal Bank of Canada has been upgraded by Wall Street Zen from a "sell" rating to a "hold" rating, following various assessments from other brokerages including a "buy" rating with a target price increase to $162.00 from Argus.
• Shares of the Royal Bank of Canada closed at $145.42 with a year low of $106.10 and a high of $147.64, indicating solid performance amidst fluctuating market conditions.
• The company reported earnings of $2.79 per share in its latest quarter, surpassing analysts' expectations and indicating a year-over-year revenue increase of 16.1% despite a revenue shortfall compared to estimates.

Wall Street Zen upgraded shares of Royal Bank Of Canada (NYSE:RY - Free Report) TSE: RY from a sell rating to a hold rating in a research note published on Saturday morning.

A number of other research firms also recently issued reports on RY. National Bankshares reiterated a "sector perform" rating on shares of Royal Bank Of Canada in a research report on Friday, August 15th. Barclays reiterated an "overweight" rating on shares of Royal Bank Of Canada in a research report on Thursday, August 14th. National Bank Financial downgraded shares of Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Argus lifted their price target on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the company a "buy" rating in a research report on Friday. Finally, Scotiabank reissued an "outperform" rating on shares of Royal Bank Of Canada in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $177.50.

Royal Bank Of Canada Stock Performance

Shares of RY traded down $0.43 during mid-day trading on Friday, hitting $145.42. 858,667 shares of the company's stock were exchanged, compared to its average volume of 1,136,119. Royal Bank Of Canada has a fifty-two week low of $106.10 and a fifty-two week high of $147.64. The firm has a market capitalization of $204.35 billion, a P/E ratio of 15.36, a P/E/G ratio of 1.49 and a beta of 0.88. The business's 50 day moving average is $133.64 and its two-hundred day moving average is $124.37. 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 (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings data on Wednesday, August 27th. The financial services provider reported $2.79 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.43. The firm had revenue of $12.26 billion during the quarter, compared to the consensus estimate of $16.03 billion. Royal Bank Of Canada had a net margin of 14.03% and a return on equity of 16.12%. The firm's revenue was up 16.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.26 earnings per share. On average, equities analysts expect 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 bought and sold shares of the company. Brighton Jones LLC grew its stake in shares of Royal Bank Of Canada by 33.1% during the 4th quarter. Brighton Jones LLC now owns 2,313 shares of the financial services provider's stock valued at $279,000 after buying an additional 575 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Royal Bank Of Canada by 544.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,196 shares of the financial services provider's stock valued at $265,000 after buying an additional 1,855 shares during the period. Stifel Financial Corp grew its stake in shares of Royal Bank Of Canada by 6.2% during the 4th quarter. Stifel Financial Corp now owns 28,393 shares of the financial services provider's stock valued at $3,422,000 after buying an additional 1,650 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Royal Bank Of Canada by 3.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,860 shares of the financial services provider's stock valued at $345,000 after buying an additional 90 shares during the period. Finally, Voya Investment Management LLC grew its stake in shares of Royal Bank Of Canada by 173.9% during the 4th quarter. Voya Investment Management LLC now owns 15,833 shares of the financial services provider's stock valued at $1,908,000 after buying an additional 10,053 shares during the period. 45.31% of the stock is owned by hedge funds and other institutional investors.

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.