Royal Bank of Canada (NYSE:RY) (TSE:RY)‘s stock had its “average” rating restated by stock analysts at Scotiabank in a research note issued on Sunday. They currently have a $115.00 target price on the financial services provider’s stock. Scotiabank’s target price points to a potential upside of 55.95% from the company’s current price.
A number of other analysts have also recently issued reports on RY. ValuEngine cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Zacks Investment Research cut Royal Bank of Canada from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th. Howard Weil upgraded Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a report on Monday, September 10th. Scotia Howard Weill upgraded Royal Bank of Canada from a “sector perform” rating to a “sector outperform” rating in a report on Monday, September 10th. Finally, Barclays reiterated a “sell” rating on shares of Royal Bank of Canada in a report on Friday, November 16th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $96.00.
RY opened at $73.74 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $105.57 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.48 and a beta of 1.15. Royal Bank of Canada has a 12 month low of $69.99 and a 12 month high of $87.10.
A number of institutional investors have recently added to or reduced their stakes in RY. Toronto Dominion Bank lifted its position in Royal Bank of Canada by 58.3% during the 2nd quarter. Toronto Dominion Bank now owns 19,886,624 shares of the financial services provider’s stock worth $1,514,311,000 after acquiring an additional 7,326,711 shares in the last quarter. Nordea Investment Management AB acquired a new position in Royal Bank of Canada during the 3rd quarter worth approximately $463,806,000. Capital World Investors acquired a new position in Royal Bank of Canada during the 3rd quarter worth approximately $135,873,000. Pathstone Family Office LLC acquired a new position in Royal Bank of Canada during the 3rd quarter worth approximately $129,136,000. Finally, JPMorgan Chase & Co. lifted its position in Royal Bank of Canada by 151.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,553,655 shares of the financial services provider’s stock worth $204,776,000 after acquiring an additional 1,538,669 shares in the last quarter. 41.17% of the stock is currently owned by hedge funds and other institutional investors.
Royal Bank of Canada Company Profile
Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.
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