Royal Bank Of Canada (NYSE:RY) (TSE:RY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “ROYAL BANK of Canada operate under the master brand name of RBC. They are Canada’s largest bank as measured by assets and market capitalization, and one of North America’s leading diversified financial services companies. They provide personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services on a global basis. They have employee approximately Seventy Thousant full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 36 other countries. “

Several other brokerages have also recently weighed in on RY. BMO Capital Markets reaffirmed a “hold” rating and issued a $102.00 price objective on shares of Royal Bank Of Canada in a report on Wednesday, November 29th. Macquarie started coverage on Royal Bank Of Canada in a report on Tuesday, October 24th. They issued an “underperform” rating for the company. BidaskClub raised Royal Bank Of Canada from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Canaccord Genuity reaffirmed a “hold” rating and issued a $105.00 price objective on shares of Royal Bank Of Canada in a report on Wednesday, November 29th. Finally, Howard Weil lowered Royal Bank Of Canada to a “sector perform” rating in a research note on Monday, August 21st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $93.60.

Royal Bank Of Canada (NYSE:RY) opened at $79.46 on Wednesday. The firm has a market capitalization of $115,955.79, a price-to-earnings ratio of 13.83, a price-to-earnings-growth ratio of 1.80 and a beta of 1.07. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.14. Royal Bank Of Canada has a fifty-two week low of $66.03 and a fifty-two week high of $80.98.

Several institutional investors and hedge funds have recently modified their holdings of RY. Arrowstreet Capital Limited Partnership grew its position in Royal Bank Of Canada by 25,974.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 5,267,110 shares of the financial services provider’s stock worth $381,962,000 after acquiring an additional 5,246,910 shares during the last quarter. Public Sector Pension investment Board grew its position in Royal Bank Of Canada by 13,079.3% during the 2nd quarter. Public Sector Pension investment Board now owns 2,886,401 shares of the financial services provider’s stock worth $209,273,000 after acquiring an additional 2,864,500 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Royal Bank Of Canada by 2,168.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 2,452,201 shares of the financial services provider’s stock worth $177,793,000 after acquiring an additional 2,344,101 shares during the last quarter. Vanguard Group Inc. grew its position in Royal Bank Of Canada by 4.1% during the 2nd quarter. Vanguard Group Inc. now owns 32,981,480 shares of the financial services provider’s stock worth $2,391,817,000 after acquiring an additional 1,303,290 shares during the last quarter. Finally, APG Asset Management N.V. grew its position in Royal Bank Of Canada by 26.8% during the 3rd quarter. APG Asset Management N.V. now owns 4,991,537 shares of the financial services provider’s stock worth $385,311,000 after acquiring an additional 1,053,845 shares during the last quarter. Institutional investors own 40.54% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Royal Bank Of Canada (RY) Upgraded at Zacks Investment Research” was first posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another domain, it was stolen and reposted in violation of U.S. and international trademark and copyright law. The original version of this piece can be read at https://www.americanbankingnews.com/2017/12/06/royal-bank-of-canada-ry-upgraded-at-zacks-investment-research.html.

Royal Bank Of Canada Company Profile

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

Get a free copy of the Zacks research report on Royal Bank Of Canada (RY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Royal Bank Of Canada (NYSE:RY)

Receive News & Ratings for Royal Bank Of Canada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Bank Of Canada and related companies with MarketBeat.com's FREE daily email newsletter.