Scotia Howard Weill upgraded shares of Royal Bank of Canada (NYSE:RY) (TSE:RY) from a sector perform rating to a sector outperform rating in a research report released on Monday.

Other analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Royal Bank of Canada from a hold rating to a sell rating in a report on Tuesday, August 14th. ValuEngine upgraded shares of Royal Bank of Canada from a sell rating to a hold rating in a report on Thursday, August 23rd. Howard Weil upgraded shares of Royal Bank of Canada from a sector perform rating to a sector outperform rating in a report on Monday. Scotiabank upgraded shares of Royal Bank of Canada from a sector perform rating to an outperform rating in a report on Monday. Finally, National Bank Financial upgraded shares of Royal Bank of Canada from a sector perform rating to an outperform rating in a report on Monday, June 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $97.20.

NYSE RY opened at $79.20 on Monday. Royal Bank of Canada has a 52-week low of $73.92 and a 52-week high of $87.10. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market cap of $114.38 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.58 and a beta of 1.15.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Thursday, October 25th will be paid a $0.753 dividend. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $0.73. The ex-dividend date is Wednesday, October 24th. This represents a $3.01 annualized dividend and a dividend yield of 3.80%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 47.19%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Schroder Investment Management Group grew its stake in Royal Bank of Canada by 79.4% during the second quarter. Schroder Investment Management Group now owns 421,523 shares of the financial services provider’s stock valued at $41,655,000 after acquiring an additional 186,552 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Royal Bank of Canada by 154.4% during the second quarter. Advisors Asset Management Inc. now owns 1,888 shares of the financial services provider’s stock valued at $142,000 after acquiring an additional 1,146 shares in the last quarter. Bank of Nova Scotia grew its stake in Royal Bank of Canada by 3.3% during the second quarter. Bank of Nova Scotia now owns 11,034,045 shares of the financial services provider’s stock valued at $830,067,000 after acquiring an additional 357,200 shares in the last quarter. Holderness Investments Co. grew its stake in Royal Bank of Canada by 49.1% during the second quarter. Holderness Investments Co. now owns 7,344 shares of the financial services provider’s stock valued at $553,000 after acquiring an additional 2,420 shares in the last quarter. Finally, Cypress Capital Group grew its stake in Royal Bank of Canada by 46.6% during the second quarter. Cypress Capital Group now owns 3,825 shares of the financial services provider’s stock valued at $288,000 after acquiring an additional 1,215 shares in the last quarter. Hedge funds and other institutional investors own 40.05% of the company’s stock.

About Royal Bank of Canada

Royal Bank of Canada, together with its subsidiaries, operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers personal and business banking services, as well as auto financing and retail investment products. This segment also provides a suite of financial products and services to individual, business clients, and public institutions through its branch, automated teller machines, online, mobile, and telephone banking networks, as well as through sales professionals.

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Analyst Recommendations for Royal Bank of Canada (NYSE:RY)

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