Zacks Investment Research upgraded shares of Royal Bank Of Canada (NYSE:RY) (TSE:RY) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

According to Zacks, “ROYAL BANK of Canada operate under the master brand name of RBC. They are Canada’s largest bank as measured by assets and market capitalization, and one of North America’s leading diversified financial services companies. They provide personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services on a global basis. They have employee approximately Seventy Thousant full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 36 other countries. “

A number of other equities analysts also recently issued reports on RY. Citigroup Inc. increased their price target on Royal Bank Of Canada from $89.00 to $95.00 and gave the stock a buy rating in a research report on Wednesday, September 14th. Dundee Securities initiated coverage on Royal Bank Of Canada in a research report on Wednesday, September 21st. They set a neutral rating on the stock. Canaccord Genuity upgraded Royal Bank Of Canada from a hold rating to a buy rating in a research report on Thursday, October 13th. Barclays PLC reiterated a sell rating on shares of Royal Bank Of Canada in a research report on Thursday, October 27th. Finally, Bank of America initiated coverage on Royal Bank Of Canada in a research report on Tuesday, November 1st. They set an underperform rating on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Royal Bank Of Canada has an average rating of Hold and a consensus target price of $84.00.

Shares of Royal Bank Of Canada (NYSE:RY) traded up 0.77% during trading on Thursday, hitting $71.96. The stock had a trading volume of 1,224,602 shares. Royal Bank Of Canada has a 52-week low of $44.37 and a 52-week high of $72.24. The firm’s 50-day moving average is $68.17 and its 200 day moving average is $63.40. The firm has a market cap of $106.88 billion, a price-to-earnings ratio of 14.07 and a beta of 1.18.

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The company also recently announced a quarterly dividend, which will be paid on Friday, February 24th. Shareholders of record on Thursday, January 26th will be issued a dividend of $0.6152 per share. The ex-dividend date is Tuesday, January 24th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 3.42%. Royal Bank Of Canada’s payout ratio is currently 51.11%.

Institutional investors have recently made changes to their positions in the stock. Checchi Capital Advisers LLC boosted its position in shares of Royal Bank Of Canada by 42.6% in the second quarter. Checchi Capital Advisers LLC now owns 5,139 shares of the company’s stock worth $304,000 after buying an additional 1,534 shares during the last quarter. CIBC World Markets Inc. boosted its stake in Royal Bank Of Canada by 0.4% in the second quarter. CIBC World Markets Inc. now owns 58,022,859 shares of the company’s stock valued at $3,428,571,000 after buying an additional 259,820 shares in the last quarter. K.J. Harrison & Partners Inc boosted its stake in Royal Bank Of Canada by 29.4% in the second quarter. K.J. Harrison & Partners Inc now owns 38,940 shares of the company’s stock valued at $2,285,000 after buying an additional 8,855 shares in the last quarter. Cardinal Capital Management boosted its stake in Royal Bank Of Canada by 2.8% in the second quarter. Cardinal Capital Management now owns 33,224 shares of the company’s stock valued at $1,963,000 after buying an additional 911 shares in the last quarter. Finally, GW Henssler & Associates Ltd. boosted its stake in Royal Bank Of Canada by 7.9% in the second quarter. GW Henssler & Associates Ltd. now owns 39,459 shares of the company’s stock valued at $2,332,000 after buying an additional 2,883 shares in the last quarter. 46.02% of the stock is owned by institutional investors and hedge funds.

About Royal Bank Of Canada

Royal Bank of Canada (RBC), is a diversified financial services company. The Company provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services on a global basis. The Company serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries.

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