Royal Bank of Canada (TSE:RY) Stock Passes Above 200 Day Moving Average of $146.36

Royal Bank of Canada (TSE:RY) (NYSE:RY) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$146.36 and traded as high as C$166.95. Royal Bank of Canada shares last traded at C$166.70, with a volume of 3,965,210 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Scotiabank reduced their target price on shares of Royal Bank of Canada from C$157.00 to C$154.00 in a research note on Monday, August 19th. BMO Capital Markets boosted their target price on Royal Bank of Canada from C$151.00 to C$165.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. TD Securities increased their price target on Royal Bank of Canada from C$171.00 to C$178.00 in a research note on Thursday, August 29th. CIBC boosted their price objective on Royal Bank of Canada from C$166.00 to C$167.00 in a research note on Friday, September 6th. Finally, UBS Group set a C$165.00 target price on Royal Bank of Canada and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of C$163.38.

Royal Bank of Canada Stock Up 0.3 %

The stock’s 50-day moving average is C$156.85 and its 200-day moving average is C$146.36. The firm has a market cap of C$235.05 billion, a P/E ratio of 14.78, a price-to-earnings-growth ratio of 10.64 and a beta of 0.84.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, topping the consensus estimate of C$2.95 by C$0.31. The company had revenue of C$14.63 billion for 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%. As a group, analysts expect that Royal Bank of Canada will post 12.7644788 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 Thursday, October 24th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s payout ratio is 50.35%.

Insider Buying and Selling at Royal Bank of Canada

In related news, Director David Ian Mckay sold 74,852 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 15,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of C$165.00, for a total transaction of C$2,475,000.00. Following the completion of the sale, the insider now directly owns 25 shares of the company’s stock, valued at approximately C$4,125. Also, Director David Ian Mckay sold 74,852 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. Insiders have sold 120,270 shares of company stock worth $19,851,907 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.