Royal Bank of Canada (TSE:RY) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Royal Bank of Canada (TSE:RY) (NYSE:RY) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Analyst Ratings Changes

Several equities analysts recently commented on RY shares. Cormark boosted their price objective on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a research note on Thursday, August 29th. Bank of America boosted their price objective on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. National Bankshares boosted their price objective on Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. CIBC boosted their price target on Royal Bank of Canada from C$167.00 to C$176.00 in a report on Tuesday, November 26th. Finally, Canaccord Genuity Group lifted their target price on shares of Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Royal Bank of Canada presently has a consensus rating of “Buy” and an average price target of C$176.58.

Royal Bank of Canada Stock Down 0.2 %

The stock’s fifty day moving average price is C$173.19 and its 200 day moving average price is C$160.58. The stock has a market cap of C$249.67 billion, a PE ratio of 15.68, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The business 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 dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 3.34%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.42. Royal Bank of Canada’s payout ratio is presently 50.31%.

Insider Activity at Royal Bank of Canada

In related news, Senior Officer Douglas Antony Guzman sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of C$166.96, for a total value of C$1,252,207.50. Following the transaction, the insider now owns 25 shares of the company’s stock, valued at approximately C$4,174.03. This trade represents a 99.67 % decrease in their ownership of the stock.

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.