Royal Bank of Canada (NYSE:RY) Downgraded to Sell Rating by StockNews.com

StockNews.com lowered shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) from a hold rating to a sell rating in a research report released on Thursday.

A number of other research analysts have also issued reports on the stock. CIBC upgraded shares of Royal Bank of Canada from a “neutral” rating to a “sector outperform” rating in a report on Friday, April 4th. Cibc World Mkts raised shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $156.50.

Royal Bank of Canada Price Performance

Shares of RY opened at $121.23 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a market cap of $171.14 billion, a PE ratio of 14.68, a PEG ratio of 1.80 and a beta of 0.82. Royal Bank of Canada has a 12-month low of $100.32 and a 12-month high of $128.05. The business has a 50-day simple moving average of $114.67 and a two-hundred day simple moving average of $119.54.

Royal Bank of Canada Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Thursday, April 24th will be issued a $1.0251 dividend. This represents a $4.10 annualized dividend and a yield of 3.38%. The ex-dividend date is Thursday, April 24th. Royal Bank of Canada’s payout ratio is presently 46.18%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Park Square Financial Group LLC acquired a new stake in shares of Royal Bank of Canada during the fourth quarter worth $25,000. WealthTrak Capital Management LLC acquired a new stake in Royal Bank of Canada during the 4th quarter worth about $28,000. Roxbury Financial LLC acquired a new stake in Royal Bank of Canada during the 4th quarter worth about $29,000. Sunbelt Securities Inc. raised its position in shares of Royal Bank of Canada by 2,272.7% in the 1st quarter. Sunbelt Securities Inc. now owns 261 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 250 shares in the last quarter. Finally, Optiver Holding B.V. acquired a new position in shares of Royal Bank of Canada in the 4th quarter valued at about $35,000. Institutional investors own 45.31% of the company’s stock.

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.