Royal Bank of Canada (TSE:RY) Shares Break Above 200-Day Moving Average – Here’s Why

Royal Bank of Canada (TSE:RY) (NYSE:RY)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$273.66 and traded as high as C$276.20. Royal Bank of Canada shares last traded at C$276.02, with a volume of 3,738,437 shares.

Analyst Ratings Changes

RY has been the topic of a number of recent research reports. Keefe, Bruyette & Woods increased their target price on Royal Bank of Canada from C$316.00 to C$324.00 in a research note on Monday, August 31st. Raymond James Financial lifted their price target on Royal Bank of Canada from C$270.50 to C$306.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 12th. Barclays upped their price target on shares of Royal Bank of Canada from C$260.00 to C$300.00 in a research note on Friday, August 21st. Scotia upped their price target on shares of Royal Bank of Canada from C$311.00 to C$312.00 and gave the stock a “sector outperform” rating in a research note on Friday, August 28th. Finally, National Bank Financial increased their price objective on shares of Royal Bank of Canada from C$318.00 to C$321.00 and gave the company an “outperform” rating in a research report on Sunday, August 30th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$292.86.

Royal Bank of Canada Price Performance

The company has a market cap of C$387.65 billion, a P/E ratio of 17.66, a P/E/G ratio of 3.42 and a beta of 0.97. The stock’s 50-day moving average is C$285.21 and its two-hundred day moving average is C$274.08.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its earnings results on Thursday, August 27th. The financial services provider reported C$4.28 EPS for the quarter. The business had revenue of C$18.54 billion during the quarter. Royal Bank of Canada had a net margin of 15.92% and a return on equity of 16.11%. On average, analysts predict that Royal Bank of Canada will post 12.35 EPS for the current year.

Royal Bank of Canada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, November 24th will be paid a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, October 26th. Royal Bank of Canada’s dividend payout ratio (DPR) is 41.49%.

Insider Buying and Selling at Royal Bank of Canada

In related news, insider Kelly Bradley sold 5,142 shares of Royal Bank of Canada stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of C$283.07, for a total value of C$1,455,545.94. Following the completion of the sale, the insider owned 1,043 shares of the company’s stock, valued at C$295,242.01. The trade was a 83.14% decrease in their ownership of the stock. Also, insider Maria Elena Douvas sold 9,604 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of C$275.20, for a total value of C$2,643,020.80. Insiders sold 104,579 shares of company stock valued at $29,698,322 in the last ninety days.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.