RBC Capital Cut to "Hold" at Zacks Investment Research (RY)

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Zacks Investment Research lowered shares of RBC Capital (NYSE:RY) from a buy rating to a hold rating in a report released on Monday, ARN reports.

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 analysts have also recently weighed in on RY. Credit Suisse upgraded shares of RBC Capital to a buy rating in a research note on Tuesday, October 27th. Barclays lowered their price target on shares of RBC Capital from $79.00 to $76.00 in a report on Wednesday, August 12th. lowered their target price on shares of RBC Capital from $83.00 to $80.00 and set a sector perform rating on the stock in a report on Tuesday, August 4th. Scotiabank decreased their price objective on shares of RBC Capital from $82.00 to $79.00 in a report on Thursday, August 27th. Finally, Canaccord Genuity cut their target price on shares of RBC Capital to $76.00 and set a hold rating on the stock in a research report on Friday, August 21st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. RBC Capital has an average rating of Hold and a consensus price target of $78.20.

RBC Capital (NYSE:RY) opened at 56.60 on Monday. The firm has a market capitalization of $81.66 billion and a price-to-earnings ratio of 11.53. RBC Capital has a one year low of $55.24 and a one year high of $57.65. The firm’s 50-day moving average is $56.68 and its 200 day moving average is $56.68.

Royal Bank of Canada is a banking company. It serves over 16 million personal, business and corporate clients across a diversified mix of businesses in 40 countries. The Company’s five business segments include Personal Commercial Banking, Wealth Management, Insurance, Investor Treasury Services and Capital Markets. The Company’s Personal Commercial Banking consists of personal and business banking operations, auto financing and retail investment businesses. Wealth Management consists of Canadian Wealth Management, United States and International Wealth Management and Global Asset Management. Insurance consists of its insurance operations in Canada and globally and operates under two business lines: Canadian Insurance and International Insurance. Investor Treasury Services segment offers global custody, fund and pension administration. Capital Markets consists of a majority of its global wholesale banking businesses.

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Thursday, November 26th, 2015 EN

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