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

by · The Markets Daily

Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$198.26 and traded as high as C$234.98. Royal Bank of Canada shares last traded at C$233.85, with a volume of 762,325 shares traded.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RY. National Bankshares raised shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from C$203.00 to C$231.00 in a research report on Monday, November 17th. Barclays lifted their target price on shares of Royal Bank of Canada from C$221.00 to C$227.00 and gave the stock an “overweight” rating in a report on Thursday, December 4th. Jefferies Financial Group cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their price target for the company from C$213.00 to C$215.00 in a report on Tuesday, November 25th. CIBC lifted their price objective on Royal Bank of Canada from C$220.00 to C$229.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Finally, Natl Bk Canada raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Royal Bank of Canada currently has a consensus rating of “Moderate Buy” and an average target price of C$228.92.

Get Our Latest Analysis on RY

Royal Bank of Canada Stock Down 0.1%

The stock’s 50-day moving average price is C$215.23 and its 200 day moving average price is C$198.26. The firm has a market cap of C$328.56 billion, a price-to-earnings ratio of 16.62, a price-to-earnings-growth ratio of 3.42 and a beta of 1.29.

Royal Bank of Canada (TSE:RY – Get Free Report) (NYSE:RY) last issued its quarterly earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share (EPS) for the quarter. Royal Bank of Canada had a return on equity of 13.27% and a net margin of 28.23%.The firm had revenue of C$17.21 billion for the quarter. On average, research analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 24th. Investors of record on Monday, November 24th were given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Monday, October 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is 42.93%.

Insiders Place Their Bets

In other Royal Bank of Canada news, Director David Ian Mckay sold 91,288 shares of the business’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of C$228.75, for a total value of C$20,882,130.00. Following the sale, the director owned 5,873 shares of the company’s stock, valued at C$1,343,448.75. The trade was a 93.96% decrease in their position.

Royal Bank of Canada Company Profile

(Get Free Report)

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S. and other countries.

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