Royal Bank of Canada (TSE:RY) Cut to “Hold” at TD Securities

Royal Bank of Canada (TSE:RY) (NYSE:RY) was downgraded by TD Securities from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, MarketBeat reports. They presently have a C$180.00 target price on the financial services provider’s stock, up from their prior target price of C$178.00. TD Securities’ target price would suggest a potential upside of 5.18% from the company’s previous close.

A number of other brokerages also recently issued reports on RY. National Bankshares boosted their price objective on Royal Bank of Canada from C$160.00 to C$169.00 in a research note on Thursday, August 29th. Jefferies Financial Group decreased their price objective on shares of Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a research report on Monday, August 12th. Canaccord Genuity Group upped their target price on shares of Royal Bank of Canada from C$159.50 to C$172.00 in a report on Thursday, August 29th. Scotiabank decreased their price target on Royal Bank of Canada from C$157.00 to C$154.00 in a report on Monday, August 19th. Finally, CIBC upped their price objective on Royal Bank of Canada from C$166.00 to C$167.00 in a research note on Friday, September 6th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$163.54.

Royal Bank of Canada Trading Down 0.5 %

RY opened at C$171.13 on Friday. The firm’s 50 day simple moving average is C$169.28 and its two-hundred day simple moving average is C$155.43. The company has a market capitalization of C$241.29 billion, a PE ratio of 15.16, a PEG ratio of 3.42 and a beta of 0.84. Royal Bank of Canada has a 1-year low of C$115.57 and a 1-year high of C$175.04.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, topping analysts’ consensus estimates of C$2.95 by C$0.31. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. The company had revenue of C$14.63 billion for the quarter, compared to analysts’ expectations of C$14.27 billion. Equities analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Royal Bank of Canada news, Director David Ian Mckay sold 74,852 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 15,000 shares of Royal Bank of Canada stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of C$165.00, for a total value of C$2,475,000.00. Following the completion of the transaction, the insider now owns 25 shares of the company’s stock, valued at approximately C$4,125. This trade represents a 99.83 % decrease in their position. Over the last 90 days, insiders have sold 144,770 shares of company stock worth $23,959,265.

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.