Royal Bank of Canada (NYSE:RY) Cut to “Sell” at StockNews.com

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

Several other research analysts have also weighed in on the company. Barclays raised Royal Bank of Canada from an “equal weight” rating to an “overweight” rating in a research report on Thursday, November 21st. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, BMO Capital Markets cut their target price on shares of Royal Bank of Canada from $195.00 to $193.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.50.

Royal Bank of Canada Stock Up 0.6 %

Shares of NYSE RY opened at $120.43 on Wednesday. The company’s 50 day moving average price is $123.20 and its 200-day moving average price is $118.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. Royal Bank of Canada has a 52-week low of $93.97 and a 52-week high of $128.05. The company has a market capitalization of $170.25 billion, a P/E ratio of 14.58, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be given a $1.0522 dividend. The ex-dividend date is Monday, January 27th. This represents a $4.21 annualized dividend and a yield of 3.49%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.03. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 52.91%.

Hedge Funds Weigh In On Royal Bank of Canada

Hedge funds have recently added to or reduced their stakes in the stock. Rothschild Investment LLC purchased a new stake in shares of Royal Bank of Canada during the second quarter valued at approximately $144,000. Commonwealth Equity Services LLC increased its stake in shares of Royal Bank of Canada by 2.1% in the second quarter. Commonwealth Equity Services LLC now owns 105,049 shares of the financial services provider’s stock worth $11,175,000 after purchasing an additional 2,163 shares in the last quarter. Summit Financial LLC raised its position in shares of Royal Bank of Canada by 8.9% in the second quarter. Summit Financial LLC now owns 3,361 shares of the financial services provider’s stock valued at $358,000 after purchasing an additional 276 shares during the period. Natixis Advisors LLC lifted its stake in shares of Royal Bank of Canada by 8.8% during the 2nd quarter. Natixis Advisors LLC now owns 117,608 shares of the financial services provider’s stock valued at $12,511,000 after buying an additional 9,535 shares in the last quarter. Finally, Magnus Financial Group LLC purchased a new position in Royal Bank of Canada in the 2nd quarter valued at approximately $204,000. Institutional investors and hedge funds 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.