Royal Bank of Canada (TSE:RY) Shares Pass Above 200 Day Moving Average – What’s Next?

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$152.09 and traded as high as C$172.94. Royal Bank of Canada shares last traded at C$172.09, with a volume of 6,831,518 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RY shares. Bank of America lifted their target price on Royal Bank of Canada from C$162.00 to C$180.00 in a research report on Thursday, August 29th. Cormark lifted their price objective on Royal Bank of Canada from C$166.00 to C$171.00 in a report on Thursday, August 29th. CIBC increased their target price on Royal Bank of Canada from C$166.00 to C$167.00 in a research note on Friday, September 6th. TD Securities lifted their price target on shares of Royal Bank of Canada from C$171.00 to C$178.00 in a research note on Thursday, August 29th. Finally, Scotiabank reduced their price objective on shares of Royal Bank of Canada from C$157.00 to C$154.00 in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$163.38.

Royal Bank of Canada Price Performance

The company has a fifty day moving average price of C$166.34 and a 200 day moving average price of C$152.55. The company has a market capitalization of C$237.43 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 EPS for the quarter, topping analysts’ consensus estimates of C$2.95 by C$0.31. The firm had revenue of C$14.63 billion during the quarter, compared to the consensus estimate of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. On average, equities research analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Royal Bank of Canada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 22nd will be given a $1.42 dividend. The ex-dividend date is Thursday, October 24th. This represents a $5.68 annualized dividend and a yield of 3.37%. Royal Bank of Canada’s dividend payout ratio is presently 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 that occurred on Thursday, September 26th. The shares were sold at an average price of C$167.95, for a total value of C$2,855,150.00. Following the sale, the insider now owns 25 shares in the company, valued at approximately C$4,198.75. This trade represents a 0.00 % decrease in their ownership of the stock. In other news, Director David Ian Mckay sold 74,852 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total value 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 dated 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 sale, the insider now owns 25 shares in the company, valued at approximately C$4,198.75. This represents a 0.00 % decrease in their ownership of the stock. Insiders sold 144,770 shares of company stock valued at $23,959,265 in the last ninety days.

Royal Bank of Canada Company Profile

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.