The stock of Royal Bank of Canada (NYSE:RY) hit a new 52-week high and has $97.64 target or 47.00% above today’s $66.42 share price. The 8 months bullish chart indicates low risk for the $99.71B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $97.64 price target is reached, the company will be worth $46.86B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 854,002 shares traded hands or 6.96% up from the average. Royal Bank of Canada (NYSE:RY) has risen 4.35% since April 19, 2016 and is uptrending. It has outperformed by 0.49% the S&P500.
Royal Bank of Canada (NYSE:RY) Ratings Coverage
Out of 8 analysts covering Royal Bank Of Canada (NYSE:RY), 4 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 50% are positive. Royal Bank Of Canada has been the topic of 13 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was maintained by Citigroup with “Buy” on Wednesday, September 14. The stock of Royal Bank of Canada (NYSE:RY) has “Buy” rating given on Thursday, August 27 by Bank of America. Argus Research maintained Royal Bank of Canada (NYSE:RY) on Thursday, August 25 with “Buy” rating. As per Saturday, August 22, the company rating was downgraded by Zacks. As per Friday, July 1, the company rating was initiated by Argus Research. Citigroup maintained the stock with “Buy” rating in Monday, August 15 report.
According to Zacks Investment Research, “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.”
More news for Royal Bank of Canada (NYSE:RY) were recently published by: Business.Financialpost.com, which released: “Royal Bank of Canada was just upgraded by TD Bank” on November 21, 2016. Cbc.ca‘s article titled: “Royal Bank hikes mortgage rates” and published on November 15, 2016 is yet another important article.
RY Company Profile
Royal Bank of Canada (RBC), incorporated on June 22, 1869, is a diversified financial services company. The Firm provides personal and commercial banking, wealth management services, insurance, investor services and capital markets services and products on a global basis. The Firm serves personal, business, public sector and institutional clients in Canada, the United States and approximately 40 other countries. The Company’s business divisions include Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, and Capital Markets. The Company, through its divisions, serves various lines of businesses, which include Personal Financial Services, Business Financial Services, Cards and Payment Solutions (Canadian Banking), Caribbean and United States Banking, Canadian Wealth Management, United States and International Wealth Management, Global Asset Management, Canadian Insurance, International Insurance, Corporate and Investment Banking, Global Markets and Other. The Company’s principal subsidiaries include Royal Bank Holding Inc., RBC USA Holdco Corporation, RBC Dominion Securities Limited, RBC Holdings (Barbados) Ltd., The Royal Trust Company, RBC Capital Trust and Royal Bank Mortgage Corporation. The Company’s principal subsidiaries include Royal Bank Holding Inc., RBC USA Holdco Corporation, RBC Dominion Securities Limited, RBC Holdings (Barbados) Ltd., The Royal Trust Company, RBC Capital Trust and Royal Bank Mortgage Corporation.
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