Royal Bank of Canada (TSE:RY) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Royal Bank of Canada (TSE:RY) (NYSE:RY)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$150.64 and traded as high as C$174.27. Royal Bank of Canada shares last traded at C$173.01, with a volume of 12,853,262 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RY shares. National Bankshares upped their target price on Royal Bank of Canada from C$160.00 to C$169.00 in a research report on Thursday, August 29th. CIBC upped their price objective on shares of Royal Bank of Canada from C$166.00 to C$167.00 in a report on Friday, September 6th. Canaccord Genuity Group lifted their price objective on shares of Royal Bank of Canada from C$159.50 to C$172.00 in a report on Thursday, August 29th. Cormark upped their target price on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a report on Thursday, August 29th. Finally, Scotiabank cut their price target on Royal Bank of Canada from C$157.00 to C$154.00 in a research note on Monday, August 19th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Royal Bank of Canada has a consensus rating of “Buy” and a consensus target price of C$163.38.

Royal Bank of Canada Stock Down 0.6 %

The stock has a 50-day moving average of C$163.06 and a 200 day moving average of C$150.64. The company has a market capitalization of C$243.94 billion, a PE ratio of 15.32, a P/E/G ratio of 3.42 and a beta of 0.84.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.95 by C$0.31. The firm had revenue of C$14.63 billion during the quarter, compared to analyst estimates of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. Equities analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Royal Bank of Canada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 22nd will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio is 50.31%.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 17,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of C$167.95, for a total value of C$2,855,150.00. Following the completion of the sale, the insider now directly owns 25 shares of the company’s stock, valued at C$4,198.75. This trade represents a 0.00 % decrease in their ownership of the stock. In related news, Director David Ian Mckay sold 74,852 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were 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 17,000 shares of Royal Bank of Canada stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of C$167.95, for a total transaction of C$2,855,150.00. Following the completion of the transaction, the insider now owns 25 shares of the company’s stock, valued at C$4,198.75. This represents a 0.00 % decrease in their ownership of the stock. Insiders have sold a total of 144,770 shares of company stock worth $23,959,265 over the last three months.

About Royal Bank of Canada

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.