Royal Bank of Canada (TSE:RY) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$164.21 and traded as high as C$174.42. Royal Bank of Canada shares last traded at C$170.92, with a volume of 3,929,527 shares.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their target price for the stock from C$178.00 to C$180.00 in a research report on Friday, November 15th. CIBC raised their price objective on Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday, November 26th. Scotiabank upped their price target on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. National Bankshares increased their target price on Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. Finally, Canaccord Genuity Group upped their price objective on Royal Bank of Canada from C$188.00 to C$191.00 in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of C$176.58.

Royal Bank of Canada Stock Down 2.0 %

The stock has a market capitalization of C$241.00 billion, a PE ratio of 15.14, a P/E/G ratio of 3.42 and a beta of 0.84. The business’s fifty day moving average is C$174.04 and its 200-day moving average is C$164.37.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, January 27th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.46%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.31%.

Insider Buying and Selling at Royal Bank of Canada

In other news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of C$177.09, for a total transaction of C$272,363.80. Following the transaction, the insider now directly owns 25 shares of the company’s stock, valued at approximately C$4,427.24. The trade was a 98.40 % decrease in their ownership of the stock.

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.