Royal Bank Of Canada (NYSE:RY) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

Key Points

• Royal Bank of Canada shares crossed above their 200-day moving average of $194.76, reaching $197.13 before closing at $196.43.
• Analysts maintain a generally positive outlook, with an overall “Moderate Buy” rating and an average price target of $225.00.
• RBC exceeded quarterly expectations with EPS of $3.07 versus $2.89 expected and announced a quarterly dividend of C$1.76, equivalent to a 3.6% annualized yield.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY's share price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $194.76 and traded as high as $197.13. Royal Bank Of Canada shares last traded at $196.4340, with a volume of 780,296 shares changing hands.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. TD Securities reaffirmed a "buy" rating on shares of Royal Bank Of Canada in a research report on Wednesday, August 12th. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Royal Bank Of Canada in a report on Wednesday, August 19th. Barclays reissued an "overweight" rating on shares of Royal Bank Of Canada in a research note on Friday, August 21st. Argus set a $225.00 price objective on Royal Bank Of Canada in a report on Thursday, June 11th. Finally, Weiss Ratings raised Royal Bank Of Canada from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $225.00.

Royal Bank Of Canada Stock Up 0.9%

The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.10. The firm has a market cap of $271.86 billion, a PE ratio of 17.19, a P/E/G ratio of 1.75 and a beta of 0.80. The business's 50-day simple moving average is $206.12 and its 200 day simple moving average is $194.76.

Royal Bank Of Canada (NYSE:RY - Get Free Report) TSE: RY last posted its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 EPS for the quarter, beating the consensus estimate of $2.89 by $0.18. Royal Bank Of Canada had a net margin of 16.17% and a return on equity of 17.79%. The business had revenue of $13.22 billion during the quarter, compared to analyst estimates of $12.98 billion. As a group, equities research analysts expect that Royal Bank Of Canada will post 11.83 earnings per share for the current year.

Royal Bank Of Canada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Monday, October 26th will be paid a C$1.76 dividend. The ex-dividend date of this dividend is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a yield of 3.6%. Royal Bank Of Canada's payout ratio is 43.39%.

Institutional Trading of Royal Bank Of Canada

Several hedge funds and other institutional investors have recently bought and sold shares of RY. Bank of Nova Scotia bought a new position in shares of Royal Bank Of Canada in the 2nd quarter worth $2,549,157,000. The Manufacturers Life Insurance Company bought a new stake in Royal Bank Of Canada during the second quarter valued at about $2,296,717,000. Canada Pension Plan Investment Board purchased a new position in Royal Bank Of Canada in the second quarter valued at about $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Royal Bank Of Canada in the second quarter valued at about $2,260,820,000. Finally, Legal & General Group Plc bought a new position in Royal Bank Of Canada in the second quarter worth about $1,645,758,000. Institutional investors own 45.31% of the company's stock.

Royal Bank Of Canada Company Profile

Royal Bank of Canada NYSE: RY is a diversified financial services company headquartered in Toronto, Canada. Founded in 1864, it operates under the RBC brand and serves individuals, businesses, institutional clients and governments.

RBC provides personal and commercial banking services, including deposit accounts, lending, mortgages, credit cards, payment solutions and financial advice. Its wealth management operations offer investment management, brokerage, trust, private banking and financial planning services to individuals, families and institutions.

Through RBC Capital Markets, the company provides investment banking, corporate banking, securities, sales and trading, and financial advisory services.

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