Royal Bank Of Canada (NYSE:RY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) have been given a consensus recommendation of “Moderate Buy” by the sixteen research firms that are presently covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $177.50.

A number of analysts have commented on the company. National Bankshares reissued a “sector perform” rating on shares of Royal Bank Of Canada in a report on Friday, August 15th. UBS Group reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research report on Tuesday, November 25th. Raymond James Financial began coverage on shares of Royal Bank Of Canada in a research note on Monday, November 24th. They set a “moderate buy” rating on the stock. Scotiabank reissued an “outperform” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. Finally, Natl Bk Canada raised shares of Royal Bank Of Canada from a “hold” rating to a “strong-buy” rating in a report on Monday.

Royal Bank Of Canada Stock Up 1.0%

RY opened at $154.42 on Wednesday. The business has a 50 day moving average of $147.59 and a 200-day moving average of $138.80. The stock has a market capitalization of $216.29 billion, a price-to-earnings ratio of 16.31, a P/E/G ratio of 1.48 and a beta of 0.86. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. Royal Bank Of Canada has a 1-year low of $106.10 and a 1-year high of $155.12.

Institutional Investors Weigh In On Royal Bank Of Canada

Institutional investors have recently added to or reduced their stakes in the stock. Johnson Financial Group Inc. acquired a new position in shares of Royal Bank Of Canada in the 3rd quarter worth approximately $27,000. Toth Financial Advisory Corp acquired a new stake in Royal Bank Of Canada in the 3rd quarter valued at $29,000. True Wealth Design LLC bought a new stake in Royal Bank Of Canada in the third quarter valued at $31,000. Atlantic Union Bankshares Corp acquired a new position in Royal Bank Of Canada during the third quarter worth $38,000. Finally, CoreCap Advisors LLC raised its stake in Royal Bank Of Canada by 103.8% during the third quarter. CoreCap Advisors LLC now owns 271 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 138 shares in the last quarter. 45.31% of the stock is owned by institutional investors and hedge funds.

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.