Royal Bank Of Canada (NYSE:RY) Upgraded at Natl Bk Canada

Natl Bk Canada upgraded shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) from a hold rating to a strong-buy rating in a report released on Monday,Zacks.com reports.

Several other brokerages have also recently issued reports on RY. Argus upped their price target on shares of Royal Bank Of Canada from $140.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Royal Bank Of Canada in a research report on Wednesday, October 8th. Cowen reaffirmed a “hold” rating on shares of Royal Bank Of Canada in a report on Thursday, August 28th. UBS Group reissued a “buy” rating on shares of Royal Bank Of Canada in a research note on Tuesday, November 25th. Finally, Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a research report on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, Royal Bank Of Canada currently has an average rating of “Moderate Buy” and a consensus price target of $177.50.

Royal Bank Of Canada Stock Performance

Shares of RY stock opened at $156.62 on Monday. The firm has a market capitalization of $219.37 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.14 and a beta of 0.80. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The business’s 50-day moving average price is $147.78 and its 200-day moving average price is $138.92. Royal Bank Of Canada has a 12 month low of $106.10 and a 12 month high of $157.98.

Royal Bank Of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Monday, January 26th will be paid a dividend of $1.64 per share. This is an increase from Royal Bank Of Canada’s previous quarterly dividend of $1.54. This represents a $6.56 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Monday, January 26th. Royal Bank Of Canada’s payout ratio is 46.67%.

Hedge Funds Weigh In On Royal Bank Of Canada

Several institutional investors have recently added to or reduced their stakes in RY. Allworth Financial LP grew its holdings in shares of Royal Bank Of Canada by 9.1% during the third quarter. Allworth Financial LP now owns 2,259 shares of the financial services provider’s stock valued at $333,000 after buying an additional 188 shares during the last quarter. Swiss Life Asset Management Ltd lifted its position in Royal Bank Of Canada by 16.9% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 115,315 shares of the financial services provider’s stock valued at $17,019,000 after acquiring an additional 16,647 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Royal Bank Of Canada by 4.6% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 13,759 shares of the financial services provider’s stock valued at $2,028,000 after purchasing an additional 610 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in Royal Bank Of Canada during the 3rd quarter worth approximately $4,132,000. Finally, Achmea Investment Management B.V. increased its holdings in Royal Bank Of Canada by 0.8% during the 3rd quarter. Achmea Investment Management B.V. now owns 15,685 shares of the financial services provider’s stock worth $2,312,000 after purchasing an additional 125 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.