Royal Bank of Canada (TSE:RY) Stock Rating Lowered by National Bank Financial

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

A number of other brokerages have also recently commented on RY. 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. Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 3rd. Jefferies Financial Group cut their price objective on Royal Bank of Canada from C$195.00 to C$180.00 in a research note on Monday, April 21st. Cormark decreased their target price on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a research note on Friday, February 28th. Finally, TD Securities lowered their price target on shares of Royal Bank of Canada from C$180.00 to C$178.00 and set a "hold" rating on the stock in a report on Friday, February 28th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada currently has a consensus rating of "Buy" and an average price target of C$180.33.

Royal Bank of Canada Trading Down 0.2%

TSE RY traded down C$0.34 during trading hours on Thursday, hitting C$174.59. 716,221 shares of the company's stock traded hands, compared to its average volume of 4,812,474. Royal Bank of Canada has a 52 week low of C$140.53 and a 52 week high of C$180.45. The firm has a market capitalization of C$247.04 billion, a P/E ratio of 15.21, a P/E/G ratio of 3.42 and a beta of 0.84. The business's fifty day moving average price is C$166.20 and its two-hundred day moving average price is C$169.54.

Insider Buying and Selling

In other Royal Bank of Canada news, Director David Ian Mckay sold 20,304 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of C$174.06, for a total value of C$3,534,158.91. Also, Senior Officer Jennifer Kristine Publicover sold 401 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of C$174.06, for a total value of C$69,798.94. Following the transaction, the insider now owns 152 shares of the company's stock, valued at approximately C$26,457.45. The trade was a 72.51% decrease in their position. Over the last three months, insiders have sold 62,330 shares of company stock worth $10,312,755.

Royal Bank of Canada Company Profile

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.