TD Securities Downgrades Royal Bank of Canada (NYSE:RY) to Hold

TD Securities cut shares of Royal Bank of Canada (NYSE:RY - Free Report) TSE: RY from a buy rating to a hold rating in a research report sent to investors on Friday, Marketbeat reports.

A number of other analysts also recently commented on the company. BMO Capital Markets increased their price target on Royal Bank of Canada from $151.00 to $165.00 and gave the company an "outperform" rating in a research report on Thursday, August 29th. StockNews.com downgraded shares of Royal Bank of Canada from a "hold" rating to a "sell" rating in a report on Saturday, July 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $142.50.

Royal Bank of Canada Stock Down 1.0 %

NYSE RY traded down $1.27 during trading hours on Friday, hitting $121.12. The company's stock had a trading volume of 413,110 shares, compared to its average volume of 1,089,286. The company has a market capitalization of $171.22 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.89 and a beta of 0.86. Royal Bank of Canada has a 52 week low of $85.02 and a 52 week high of $126.96. The company's 50-day simple moving average is $123.36 and its two-hundred day simple moving average is $113.56. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.12.

Royal Bank of Canada (NYSE:RY - Get Free Report) TSE: RY last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $10.40 billion. Royal Bank of Canada had a return on equity of 15.17% and a net margin of 12.28%. Research analysts anticipate that Royal Bank of Canada will post 8.88 EPS for the current fiscal year.

Royal Bank of Canada Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be given a $1.028 dividend. This represents a $4.11 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada's dividend payout ratio (DPR) is currently 50.79%.

Institutional Trading of Royal Bank of Canada

A number of institutional investors have recently added to or reduced their stakes in RY. FMR LLC lifted its stake in Royal Bank of Canada by 75.8% in the 3rd quarter. FMR LLC now owns 17,866,021 shares of the financial services provider's stock worth $2,229,834,000 after purchasing an additional 7,702,585 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Royal Bank of Canada by 16.7% in the 2nd quarter. National Bank of Canada FI now owns 20,232,204 shares of the financial services provider's stock valued at $2,141,681,000 after acquiring an additional 2,901,033 shares in the last quarter. Capital World Investors grew its holdings in shares of Royal Bank of Canada by 75.0% during the first quarter. Capital World Investors now owns 6,320,246 shares of the financial services provider's stock worth $637,460,000 after purchasing an additional 2,708,534 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Royal Bank of Canada by 165.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,896,755 shares of the financial services provider's stock worth $361,532,000 after purchasing an additional 1,804,022 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Royal Bank of Canada by 40.5% during the first quarter. Canada Pension Plan Investment Board now owns 5,039,171 shares of the financial services provider's stock valued at $508,739,000 after purchasing an additional 1,452,127 shares during the last quarter. 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.