Royal Bank of Canada (TSE:RY) Shares Cross Above 200 Day Moving Average of $103.74

Royal Bank of Canada (TSE:RY) (NYSE:RY) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $103.74 and traded as high as $106.08. Royal Bank of Canada shares last traded at $105.80, with a volume of 367,681 shares changing hands.

RY has been the subject of a number of research analyst reports. National Bank Financial reduced their target price on Royal Bank of Canada from C$112.00 to C$111.00 and set an “outperform” rating for the company in a report on Thursday, August 22nd. Cormark reduced their target price on Royal Bank of Canada from C$112.00 to C$111.00 in a report on Thursday, August 22nd. Citigroup reduced their target price on Royal Bank of Canada from C$120.00 to C$113.00 in a report on Monday, September 9th. BMO Capital Markets reduced their target price on Royal Bank of Canada from C$114.00 to C$109.00 in a report on Thursday, August 22nd. Finally, Eight Capital reduced their target price on Royal Bank of Canada from C$114.00 to C$113.00 in a report on Wednesday, September 4th.

The firm has a market capitalization of $151.80 billion and a price-to-earnings ratio of 12.05. The stock’s 50 day moving average price is C$102.72 and its two-hundred day moving average price is C$103.74.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings results on Wednesday, August 21st. The financial services provider reported C$2.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of C$2.31 by C($0.05). The firm had revenue of C$11.54 billion for the quarter, compared to analyst estimates of C$11.81 billion. Analysts expect that Royal Bank of Canada will post 9.3999996 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, October 24th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend is Wednesday, October 23rd. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 45.64%.

In other Royal Bank of Canada news, Director David Ian Mckay sold 8,258 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of C$104.66, for a total transaction of C$864,257.51. Following the transaction, the director now directly owns 5,873 shares of the company’s stock, valued at C$614,650.56. Also, Senior Officer Alex Douglas Mcgregor sold 5,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of C$106.98, for a total transaction of C$534,899.00. Following the transaction, the insider now directly owns 54,675 shares in the company, valued at C$5,849,120.57. Insiders sold 57,398 shares of company stock worth $5,880,666 over the last ninety days.

Royal Bank of Canada Company Profile (TSE:RY)

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.

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