Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY's share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$150.64 and traded as high as C$174.27. Royal Bank of Canada shares last traded at C$173.01, with a volume of 12,853,262 shares.
Analyst Upgrades and Downgrades
A number of brokerages have commented on RY. National Bankshares increased their price objective on shares of Royal Bank of Canada from C$160.00 to C$169.00 in a research report on Thursday, August 29th. BMO Capital Markets raised their price target on Royal Bank of Canada from C$151.00 to C$165.00 and gave the company a "strong-buy" rating in a research note on Thursday, August 29th. Cormark upped their price objective on Royal Bank of Canada from C$166.00 to C$171.00 in a research report on Thursday, August 29th. TD Securities increased their price objective on Royal Bank of Canada from C$171.00 to C$178.00 in a report on Thursday, August 29th. Finally, Scotiabank decreased their target price on Royal Bank of Canada from C$157.00 to C$154.00 in a research note on Monday, August 19th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of C$163.38.
Check Out Our Latest Stock Analysis on RY
Royal Bank of Canada Price Performance
The business's 50-day moving average price is C$163.06 and its 200-day moving average price is C$150.64. The firm has a market capitalization of C$243.94 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.
Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last issued its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) 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 the consensus estimate of C$14.27 billion. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. Equities analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.
Royal Bank of Canada Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 22nd will be given a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada's dividend payout ratio (DPR) is presently 50.31%.
Insiders Place Their Bets
In related news, Director David Ian Mckay sold 74,852 shares of Royal Bank of Canada stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. In related news, Director David Ian Mckay sold 74,852 shares of the firm's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 15,000 shares of Royal Bank of Canada stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of C$165.00, for a total value of C$2,475,000.00. Following the completion of the sale, the insider now directly owns 25 shares in the company, valued at C$4,125. This represents a 0.00 % decrease in their position. In the last ninety days, insiders sold 144,770 shares of company stock valued at $23,959,265.
About Royal Bank of Canada
(
Get Free Report)
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.
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