Royal Bank of Canada (TSE:RY) Downgraded to Hold Rating by Cibc World Mkts

Key Points

• The Royal Bank of Canada has been downgraded from a "strong-buy" rating to a "hold" rating by Cibc World Mkts, indicating a shift in analysts' outlook.
• Multiple analysts have recently raised their price targets for the bank, with a consensus target price now at C$206.00 and an average rating of "Moderate Buy."
• Insider trading activity includes the sale of over 42,000 shares by directors, totaling approximately C$7.5 million, suggesting some level of caution among insiders.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY was downgraded by equities research analysts at Cibc World Mkts from a "strong-buy" rating to a "hold" rating in a research report issued on Friday,Zacks.com reports.

Other equities analysts have also issued reports about the company. CIBC lowered Royal Bank of Canada from an "outperform" rating to a "neutral" rating and set a C$208.00 target price on the stock. in a research report on Friday, September 5th. Scotiabank upped their target price on Royal Bank of Canada from C$186.00 to C$210.00 and gave the company an "outperform" rating in a research report on Thursday, August 28th. Canaccord Genuity Group upped their target price on Royal Bank of Canada from C$201.00 to C$219.00 and gave the company a "buy" rating in a research report on Thursday, August 28th. National Bank Financial downgraded Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a report on Thursday, May 29th. Finally, Jefferies Financial Group boosted their price target on Royal Bank of Canada from C$198.00 to C$207.00 in a report on Wednesday, August 13th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Royal Bank of Canada presently has an average rating of "Moderate Buy" and a consensus price target of C$206.00.

Royal Bank of Canada Stock Up 0.4%

Shares of TSE RY traded up C$0.71 during midday trading on Friday, hitting C$200.65. The stock had a trading volume of 698,094 shares, compared to its average volume of 4,275,288. The company has a fifty day moving average price of C$186.68 and a 200 day moving average price of C$174.36. The company has a market capitalization of C$282.98 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 3.42 and a beta of 1.17. Royal Bank of Canada has a 1-year low of C$151.25 and a 1-year high of C$204.60.

Insider Transactions at Royal Bank of Canada

In other news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of C$182.30, for a total value of C$56,148.92. Also, Director David Ian Mckay sold 20,304 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of C$182.30, for a total value of C$3,701,453.72. Over the last quarter, insiders sold 42,026 shares of company stock valued at $7,517,844.

About Royal Bank of Canada

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.