Royal Bank of Canada (TSE:RY) Downgraded to Hold Rating by Raymond James Financial

Royal Bank of Canada (TSE:RY) (NYSE:RY) was downgraded by equities research analysts at Raymond James Financial from a “moderate buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. TD increased their price target on shares of Royal Bank of Canada from C$259.00 to C$267.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Barclays increased their price objective on shares of Royal Bank of Canada from C$244.00 to C$245.00 in a research report on Friday, February 27th. Canadian Imperial Bank of Commerce increased their price objective on shares of Royal Bank of Canada from C$229.00 to C$242.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. Canaccord Genuity Group increased their price objective on shares of Royal Bank of Canada from C$242.00 to C$255.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, TD Securities dropped their price objective on shares of Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and an average price target of C$247.62.

Royal Bank of Canada Price Performance

Shares of RY stock opened at C$249.87 on Tuesday. The stock has a market cap of C$347.45 billion, a P/E ratio of 17.16, a P/E/G ratio of 3.42 and a beta of 1.14. The company has a fifty day moving average price of C$232.59 and a two-hundred day moving average price of C$227.43. Royal Bank of Canada has a one year low of C$168.93 and a one year high of C$249.87.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings results on Thursday, February 26th. The financial services provider reported C$4.08 EPS for the quarter. The firm had revenue of C$17.96 billion during the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. As a group, equities research analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insider Buying and Selling at Royal Bank of Canada

In related news, Director David Ian Mckay sold 23,089 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total transaction of C$5,606,470.98. Following the transaction, the director directly owned 5,873 shares of the company’s stock, valued at approximately C$1,426,081.86. This trade represents a 79.72% decrease in their ownership of the stock. Also, insider Graeme Ashley Hepworth sold 1,463 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was sold at an average price of C$242.82, for a total transaction of C$355,245.66. Insiders sold 29,110 shares of company stock valued at $7,068,490 in the last quarter.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.