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

Barclays upgraded shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) from an equal weight rating to an overweight rating in a research note issued to investors on Thursday, Marketbeat.com reports.

Several other equities research analysts have also commented on the stock. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. BMO Capital Markets boosted their price objective on Royal Bank of Canada from $151.00 to $165.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.50.

Royal Bank of Canada Price Performance

NYSE RY opened at $125.08 on Thursday. Royal Bank of Canada has a 52 week low of $85.02 and a 52 week high of $126.96. The firm has a market capitalization of $176.82 billion, a P/E ratio of 15.13, a PEG ratio of 1.88 and a beta of 0.86. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.12. The company has a 50-day moving average price of $123.36 and a 200-day moving average price of $114.40.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Wednesday, August 28th. The financial services provider reported $2.38 EPS for the quarter, beating the consensus estimate of $2.15 by $0.23. Royal Bank of Canada had a net margin of 12.28% and a return on equity of 15.17%. The firm had revenue of $10.68 billion during the quarter, compared to analyst estimates of $10.40 billion. Equities research analysts anticipate that Royal Bank of Canada will post 8.88 earnings per share for the current year.

Royal Bank of Canada Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Thursday, October 24th will be paid a dividend of $1.028 per share. The ex-dividend date is Thursday, October 24th. This represents a $4.11 dividend on an annualized basis and a dividend yield of 3.29%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.79%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new position in Royal Bank of Canada in the 3rd quarter worth approximately $25,000. Dunhill Financial LLC purchased a new position in shares of Royal Bank of Canada in the third quarter valued at $25,000. Larson Financial Group LLC purchased a new position in shares of Royal Bank of Canada in the third quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Royal Bank of Canada by 110.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 118 shares in the last quarter. Finally, Grove Bank & Trust purchased a new position in shares of Royal Bank of Canada in the third quarter valued at $28,000. 45.31% of the stock is currently owned by 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.