Royal Bank of Canada (TSE:RY) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$210.10 and traded as high as C$233.35. Royal Bank of Canada shares last traded at C$232.72, with a volume of 2,647,762 shares.

Analysts Set New Price Targets

RY has been the subject of a number of research analyst reports. Canadian Imperial Bank of Commerce upped their target price on Royal Bank of Canada from C$220.00 to C$229.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Natl Bk Canada raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. BMO Capital Markets raised their target price on shares of Royal Bank of Canada from C$229.00 to C$245.00 in a research report on Wednesday, December 17th. Raymond James Financial upped their price target on shares of Royal Bank of Canada from C$229.00 to C$239.00 and gave the company an “outperform” rating in a research report on Thursday, December 4th. Finally, National Bankshares upgraded shares of Royal Bank of Canada from a “sector perform” rating to an “outperform” rating and increased their price target for the stock from C$203.00 to C$231.00 in a research note on Monday, November 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of C$229.77.

Royal Bank of Canada Trading Up 0.7%

The stock has a fifty day simple moving average of C$230.89 and a two-hundred day simple moving average of C$210.10. The company has a market cap of C$325.86 billion, a PE ratio of 16.54, a price-to-earnings-growth ratio of 3.42 and a beta of 1.28.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its earnings results on Wednesday, December 3rd. The financial services provider reported C$3.85 earnings per share (EPS) for the quarter. The business had revenue of C$17.21 billion during the quarter. Royal Bank of Canada had a return on equity of 13.27% and a net margin of 28.23%. As a group, equities research analysts anticipate that Royal Bank of Canada will post 12.3454675 EPS for the current fiscal year.

Insider Transactions at Royal Bank of Canada

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

About Royal Bank of Canada

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.