Royal Bank Of Canada (NYSE:RY) Share Price Breaks Below Fifty Day Moving Average – Here’s Why

Royal Bank Of Canada (NYSE:RY) (TSE:RY) shares crossed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $201.46 and traded as low as $200.80. Royal Bank Of Canada shares last traded at $201.0570, with a volume of 1,588,956 shares traded.

Analysts Set New Price Targets

A number of research firms have issued reports on RY. Keefe, Bruyette & Woods initiated coverage on Royal Bank Of Canada in a research report on Friday, August 21st. They issued a “market perform” rating on the stock. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Scotiabank restated an “outperform” rating on shares of Royal Bank Of Canada in a report on Friday, August 28th. Weiss Ratings restated a “buy (a-)” rating on shares of Royal Bank Of Canada in a report on Tuesday, October 27th. Finally, Barclays reaffirmed an “overweight” rating on shares of Royal Bank Of Canada in a research report on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Royal Bank Of Canada presently has a consensus rating of “Moderate Buy” and an average price target of $225.00.

Royal Bank Of Canada Stock Down 1.3%

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 business’s fifty day moving average price is $201.46 and its 200 day moving average price is $190.02. The firm has a market capitalization of $278.26 billion, a price-to-earnings ratio of 17.59, a PEG ratio of 1.69 and a beta of 0.79.

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

Royal Bank Of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, October 26th will be issued a dividend of C$1.76 per share. The ex-dividend date is Monday, October 26th. This represents a $7.04 dividend on an annualized basis and a dividend yield of 3.5%. Royal Bank Of Canada’s dividend payout ratio is currently 43.31%.

Institutional Trading of Royal Bank Of Canada

Large investors have recently made changes to their positions in the stock. Bank of Nova Scotia acquired a new position in shares of Royal Bank Of Canada in the second quarter valued at about $2,549,157,000. The Manufacturers Life Insurance Company purchased a new stake in Royal Bank Of Canada during the second quarter worth $2,296,717,000. Canada Pension Plan Investment Board acquired a new position in Royal Bank Of Canada during the 2nd quarter worth approximately $2,275,797,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Royal Bank Of Canada in the second quarter valued at $2,260,820,000. Finally, Legal & General Group Plc bought a new stake in shares of Royal Bank Of Canada during the second quarter valued at approximately $1,645,758,000. Institutional investors own 45.31% of the company’s stock.

About Royal Bank Of Canada

Royal Bank of Canada (RBC) is a diversified financial services company founded in 1864 and headquartered in Toronto, Ontario. It provides personal and commercial banking, wealth management, insurance, investor and treasury services, and capital markets services to individuals, businesses, institutions, and governments.

In Canada, RBC offers banking products such as deposit accounts, loans, mortgages, credit cards, and financial advice. Its wealth management and insurance businesses provide investment, advisory, and protection services, while its capital markets operations serve corporate and institutional clients.

RBC serves customers primarily in Canada and the United States, with additional operations and clients in international markets.