Royal Bank of Canada (TSE:RY) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Royal Bank of Canada (TSE:RY) (NYSE:RY) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$169.59 and traded as high as C$176.19. Royal Bank of Canada shares last traded at C$174.99, with a volume of 3,094,937 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. National Bank Financial cut Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report on Thursday, May 29th. Cibc World Mkts upgraded shares of Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 3rd. Cormark dropped their price objective on shares of Royal Bank of Canada from C$194.00 to C$189.00 in a research report on Friday, February 28th. Jefferies Financial Group decreased their price objective on Royal Bank of Canada from C$195.00 to C$180.00 in a research report on Monday, April 21st. Finally, Barclays lifted their target price on Royal Bank of Canada from C$180.00 to C$182.00 and gave the company an “overweight” rating in a research note on Monday, June 9th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$183.75.

Royal Bank of Canada Stock Performance

The company has a market capitalization of C$247.61 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The company has a 50-day moving average price of C$168.93 and a 200-day moving average price of C$169.59.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be issued a dividend of $1.54 per share. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.48. This represents a $6.16 annualized dividend and a yield of 3.52%. Royal Bank of Canada’s payout ratio is currently 49.49%.

Insider Buying and Selling at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of C$174.06, for a total value of C$53,611.16. Also, Director David Ian Mckay sold 20,304 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of C$174.06, for a total value of C$3,534,158.91. Over the last ninety days, insiders sold 62,330 shares of company stock valued at $10,312,755.

About Royal Bank of Canada

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.