Royal Bank of Canada (TSE:RY) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Royal Bank of Canada (TSE:RY) (NYSE:RY) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$168.12 and traded as high as C$169.77. Royal Bank of Canada shares last traded at C$169.34, with a volume of 3,706,118 shares.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. National Bankshares boosted their price objective on Royal Bank of Canada from C$181.00 to C$188.00 in a research note on Thursday, December 5th. CIBC increased their target price on Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday, November 26th. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their price target for the stock from C$178.00 to C$180.00 in a research report on Friday, November 15th. Finally, Canaccord Genuity Group increased their price objective on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a research report on Thursday, December 5th. Two analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of C$178.83.

Royal Bank of Canada Price Performance

The firm has a market cap of C$238.67 billion, a P/E ratio of 14.70, a PEG ratio of 3.42 and a beta of 0.84. The firm’s 50-day moving average price is C$173.75 and its 200 day moving average price is C$168.36.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 24th will be given a $1.48 dividend. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Monday, January 27th. This represents a $5.92 annualized dividend and a dividend yield of 3.51%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 49.49%.

Insider Activity

In related news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total value of C$272,363.80. Following the completion of the transaction, the insider now directly owns 25 shares of the company’s stock, valued at C$4,427.24. This represents a 98.40 % decrease in their position. Also, Director David Ian Mckay sold 20,304 shares of Royal Bank of Canada stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of C$175.12, for a total value of C$3,555,721.76. In the last ninety days, insiders sold 22,150 shares of company stock worth $3,882,024.

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.