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

Royal Bank of Canada (TSE:RY) (NYSE:RY)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$204.86 and traded as high as C$235.87. Royal Bank of Canada shares last traded at C$235.42, with a volume of 3,065,198 shares changing hands.

Analysts Set New Price Targets

Several analysts have commented on RY shares. UBS Group lifted their price target on Royal Bank of Canada from C$225.00 to C$238.00 in a report on Tuesday, November 25th. National Bankshares raised 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. CIBC lifted 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 report on Thursday, December 11th. Barclays boosted their price target on Royal Bank of Canada from C$221.00 to C$227.00 and gave the company an “overweight” rating in a research report on Thursday, December 4th. Finally, Scotiabank lifted their price objective on Royal Bank of Canada from C$231.00 to C$242.00 in a research note on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$229.77.

Royal Bank of Canada Price Performance

The company has a fifty day moving average of C$224.60 and a two-hundred day moving average of C$205.04. The stock has a market capitalization of C$329.64 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 3.42 and a beta of 1.32.

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

Royal Bank of Canada Dividend Announcement

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

Insider Activity at Royal Bank of Canada

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

Royal Bank of Canada Company Profile

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.