Royal Bank of Canada (TSE:RY) Downgraded by National Bank Financial to Sector Perform

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY was downgraded by equities research analysts at National Bank Financial from an "outperform" rating to a "sector perform" rating in a report released on Thursday, MarketBeat reports.

A number of other equities analysts have also weighed in on the company. Cormark lowered their target price on Royal Bank of Canada from C$194.00 to C$189.00 in a research report on Friday, February 28th. Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. CIBC raised their target price on Royal Bank of Canada from C$168.00 to C$174.00 in a report on Thursday, May 22nd. National Bankshares set a C$179.00 target price on Royal Bank of Canada and gave the company an "outperform" rating in a report on Thursday, May 22nd. Finally, TD Securities lowered their price target on Royal Bank of Canada from C$180.00 to C$178.00 and set a "hold" rating for the company in a research report on Friday, February 28th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of C$180.33.

Royal Bank of Canada Price Performance

Shares of TSE:RY traded up C$1.22 during trading on Thursday, reaching C$175.16. 2,519,595 shares of the stock were exchanged, compared to its average volume of 4,870,661. Royal Bank of Canada has a 1-year low of C$140.53 and a 1-year high of C$180.45. The stock has a fifty day moving average of C$165.80 and a two-hundred day moving average of C$169.49. The firm has a market cap of C$247.85 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Insider Buying and Selling

In other news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of C$174.06, for a total transaction of C$53,611.16. Also, Director David Ian Mckay sold 20,304 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of C$161.89, for a total value of C$3,287,014.56. Over the last 90 days, insiders sold 62,330 shares of company stock worth $10,312,755.

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.