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

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.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on RY shares. Weiss Ratings restated a “buy (a-)” rating on shares of Royal Bank Of Canada in a research report on Tuesday, October 27th. TD Securities reaffirmed a “buy” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 12th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Royal Bank Of Canada in a research note on Wednesday, August 19th. Barclays reissued an “overweight” rating on shares of Royal Bank Of Canada in a report on Friday, August 21st. Finally, Keefe, Bruyette & Woods began coverage on Royal Bank Of Canada in a research note on Friday, August 21st. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently 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 cap of $278.27 billion, a PE ratio of 17.59, a P/E/G ratio of 1.67 and a beta of 0.79. The company’s fifty day moving average price is $201.46 and its two-hundred day moving average price is $190.02. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.10.

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 (EPS) for the quarter, topping 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 firm had revenue of $13.22 billion during the quarter, compared to analysts’ expectations of $12.98 billion. As a group, sell-side analysts forecast that Royal Bank Of Canada will post 11.83 earnings per share for the current fiscal year.

Royal Bank Of Canada Announces Dividend

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

Institutional Trading of Royal Bank Of Canada

Institutional investors have recently modified their holdings of the business. Diversified Trust Co raised its position 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 buying an additional 11,901 shares during the period. Allworth Financial LP lifted its stake in Royal Bank Of Canada by 5.8% in the 3rd quarter. Allworth Financial LP now owns 2,916 shares of the financial services provider’s stock worth $604,000 after acquiring an additional 159 shares in the last quarter. Fisher Asset Management LLC boosted its position 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 worth $1,448,443,000 after acquiring an additional 305,484 shares during the period. Fifth Third Bancorp increased its stake in 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 valued at $849,000 after buying an additional 627 shares during the period. Finally, Ritholtz Wealth Management lifted its position in Royal Bank Of Canada by 1.5% in the 3rd quarter. Ritholtz Wealth Management now owns 39,336 shares of the financial services provider’s stock worth $7,733,000 after buying an additional 580 shares in the last quarter. 45.31% of the stock is currently owned by hedge funds and other institutional investors.

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.