Royal Bank of Canada (TSE:RY) Shares Pass Above 200-Day Moving Average – Here’s Why

Royal Bank of Canada (TSE:RY) (NYSE:RY) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$160.58 and traded as high as C$177.78. Royal Bank of Canada shares last traded at C$177.07, with a volume of 2,447,006 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RY. Scotiabank boosted their price objective on Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. National Bankshares increased their price target on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. Barclays upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. Cormark increased their target price on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a report on Thursday, August 29th. Finally, CIBC increased their price objective on Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$176.58.

Royal Bank of Canada Stock Performance

The firm has a market capitalization of C$242.96 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 3.42 and a beta of 0.84. The company has a 50-day moving average price of C$173.45 and a 200-day moving average price of C$161.01.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be given a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.44%. This is an increase from Royal Bank of Canada’s previous quarterly dividend of $1.42. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.31%.

Insider Transactions at Royal Bank of Canada

In other news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of C$177.09, for a total value of C$272,363.80. Following the completion of the sale, the insider now directly owns 25 shares of the company’s stock, valued at approximately C$4,427.24. This represents a 98.40 % decrease in their ownership of the stock. Over the last 90 days, insiders have sold 26,038 shares of company stock worth $4,379,721.

Royal Bank of Canada Company Profile

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.