Barclays Upgrades Royal Bank of Canada (NYSE:RY) to “Overweight”

Royal Bank of Canada (NYSE:RY) (TSE:RY) was upgraded by equities research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports.

RY has been the subject of a number of other research reports. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. BMO Capital Markets increased their price target on shares of Royal Bank of Canada from $151.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $142.50.

Royal Bank of Canada Stock Down 0.1 %

Shares of NYSE RY opened at $125.02 on Thursday. The firm has a market cap of $176.74 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 1.88 and a beta of 0.86. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.87 and a current ratio of 0.87. Royal Bank of Canada has a 1 year low of $85.02 and a 1 year high of $126.96. The firm’s 50 day moving average price is $123.39 and its 200 day moving average price is $114.56.

Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.23. The business had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. As a group, sell-side analysts anticipate that Royal Bank of Canada will post 8.88 earnings per share for the current year.

Hedge Funds Weigh In On Royal Bank of Canada

A number of hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new stake in shares of Royal Bank of Canada during the 3rd quarter valued at about $25,000. Dunhill Financial LLC acquired a new stake in Royal Bank of Canada in the third quarter valued at approximately $25,000. Larson Financial Group LLC purchased a new stake in shares of Royal Bank of Canada during the third quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Royal Bank of Canada by 110.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 225 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 118 shares in the last quarter. Finally, Grove Bank & Trust purchased a new position in shares of Royal Bank of Canada in the third quarter valued at $28,000. Hedge funds and other institutional investors own 45.31% of the company’s stock.

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.