Royal Bank Of Canada (NYSE:RY) Shares Break Below 50-Day Moving Average – What’s Next?

Royal Bank Of Canada (NYSE:RY) (TSE:RY)’s share price 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 changing hands.

Wall Street Analysts Forecast Growth

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

Royal Bank Of Canada Trading Down 1.3%

The firm has a market capitalization of $278.26 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 1.69 and a beta of 0.79. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a fifty day simple moving average of $201.46 and a two-hundred day simple moving average of $190.02.

Royal Bank Of Canada (NYSE:RY) (TSE:RY) last released its quarterly earnings results on Thursday, August 27th. The financial services provider reported $3.07 earnings per share (EPS) 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 return on equity of 17.79% and a net margin of 16.17%. On average, equities research analysts anticipate that Royal Bank Of Canada will post 11.83 earnings per share for the current fiscal year.

Royal Bank Of Canada Dividend Announcement

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

Institutional Trading of Royal Bank Of Canada

Hedge funds have recently modified their holdings of the stock. Diversified Trust Co increased its stake in Royal Bank Of Canada by 17.7% during the third quarter. Diversified Trust Co now owns 79,075 shares of the financial services provider’s stock valued at $15,545,000 after purchasing an additional 11,901 shares during the last quarter. Allworth Financial LP increased its stake in shares of Royal Bank Of Canada by 5.8% during the third quarter. Allworth Financial LP now owns 2,916 shares of the financial services provider’s stock valued at $604,000 after buying an additional 159 shares during the period. Fisher Asset Management LLC boosted its holdings in Royal Bank Of Canada by 4.3% during the 3rd quarter. Fisher Asset Management LLC now owns 7,367,837 shares of the financial services provider’s stock valued at $1,448,443,000 after acquiring an additional 305,484 shares during the period. Fifth Third Bancorp raised its holdings in shares of Royal Bank Of Canada by 17.0% in the 3rd quarter. Fifth Third Bancorp now owns 4,319 shares of the financial services provider’s stock worth $849,000 after purchasing an additional 627 shares during the period. Finally, Ritholtz Wealth Management raised its position in Royal Bank Of Canada by 1.5% during the third quarter. Ritholtz Wealth Management now owns 39,336 shares of the financial services provider’s stock valued at $7,733,000 after acquiring an additional 580 shares in the last quarter. Hedge funds and other institutional investors own 45.31% of the company’s stock.

Royal Bank Of Canada Company Profile

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.