Royal Bank of Canada (NYSE:RY) Stock Rating Upgraded by CIBC

Royal Bank of Canada (NYSE:RY) (TSE:RY) was upgraded by investment analysts at CIBC from a “neutral” rating to a “sector outperform” rating in a research note issued on Friday, MarketBeat reports.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets reduced their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. StockNews.com raised shares of Royal Bank of Canada from a “sell” rating to a “hold” rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $156.50.

Royal Bank of Canada Stock Performance

RY opened at $111.13 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.86 and a quick ratio of 0.86. The business has a fifty day simple moving average of $116.60 and a 200 day simple moving average of $120.69. Royal Bank of Canada has a 1 year low of $95.84 and a 1 year high of $128.05. The company has a market capitalization of $156.88 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82.

Institutional Trading of Royal Bank of Canada

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of Royal Bank of Canada by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,548,041 shares of the financial services provider’s stock valued at $427,589,000 after purchasing an additional 64,450 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Royal Bank of Canada during the 4th quarter worth $60,034,000. Wealth High Governance Capital Ltda acquired a new stake in Royal Bank of Canada in the fourth quarter valued at about $10,243,000. Jones Financial Companies Lllp grew its position in Royal Bank of Canada by 1,322.0% in the fourth quarter. Jones Financial Companies Lllp now owns 4,010 shares of the financial services provider’s stock valued at $483,000 after acquiring an additional 3,728 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Royal Bank of Canada by 9.3% in the third quarter. Geode Capital Management LLC now owns 6,390,914 shares of the financial services provider’s stock valued at $805,616,000 after acquiring an additional 541,760 shares during the last quarter. Institutional investors and hedge funds own 45.31% of the company’s stock.

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.