Royal Bank of Canada (TSE:RY) Shares Cross Above Two Hundred Day Moving Average of $136.50

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$136.50 and traded as high as C$146.05. Royal Bank of Canada shares last traded at C$145.65, with a volume of 3,763,459 shares traded.

Wall Street Analysts Forecast Growth

RY has been the subject of several research analyst reports. Argus upgraded shares of Royal Bank of Canada to a “strong-buy” rating in a research report on Thursday, June 6th. Jefferies Financial Group lifted their price objective on shares of Royal Bank of Canada from C$159.00 to C$168.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. BMO Capital Markets cut Royal Bank of Canada from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 31st. TD Securities raised their price target on Royal Bank of Canada from C$156.00 to C$160.00 and gave the company a “buy” rating in a research report on Friday, May 31st. Finally, Desjardins upped their price objective on Royal Bank of Canada from C$142.00 to C$156.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$144.50.

Royal Bank of Canada Price Performance

The business has a 50-day moving average of C$142.17 and a 200 day moving average of C$136.50. The company has a market cap of C$205.37 billion, a PE ratio of 13.60, a PEG ratio of 10.64 and a beta of 0.83.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its quarterly earnings data on Thursday, May 30th. The financial services provider reported C$2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.77 by C$0.15. Royal Bank of Canada had a net margin of 28.61% and a return on equity of 13.66%. The company had revenue of C$14.15 billion for the quarter, compared to the consensus estimate of C$13.58 billion. On average, equities analysts predict that Royal Bank of Canada will post 11.1525292 EPS for the current fiscal year.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, July 25th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 3.90%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.38. The ex-dividend date is Thursday, July 25th. Royal Bank of Canada’s dividend payout ratio is 51.54%.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Neil Mclaughlin sold 14,778 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total transaction of C$2,161,474.61. In related news, Senior Officer Douglas Antony Guzman sold 54,354 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of C$145.15, for a total transaction of C$7,889,646.16. Following the completion of the transaction, the insider now owns 25 shares in the company, valued at C$3,628.83. Also, Senior Officer Neil Mclaughlin sold 14,778 shares of Royal Bank of Canada stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of C$146.26, for a total transaction of C$2,161,474.61. Over the last quarter, insiders sold 101,302 shares of company stock valued at $14,592,565.

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.