Royal Bank of Canada (TSE:RY) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Royal Bank of Canada (TSE:RY) (NYSE:RY) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$220.42 and traded as high as C$227.85. Royal Bank of Canada shares last traded at C$227.34, with a volume of 2,782,482 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Canaccord Genuity Group boosted their price target on shares of Royal Bank of Canada from C$242.00 to C$255.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Raymond James Financial lifted their target price on shares of Royal Bank of Canada from C$255.00 to C$260.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. TD Securities cut their target price on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. National Bank Financial upped their target price on Royal Bank of Canada from C$241.00 to C$247.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Finally, Canadian Imperial Bank of Commerce increased their price target on Royal Bank of Canada from C$229.00 to C$242.00 and gave the company a “neutral” rating in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of C$244.58.

Royal Bank of Canada Trading Up 0.2%

The stock has a market cap of C$316.66 billion, a PE ratio of 15.61, a PEG ratio of 3.42 and a beta of 1.22. The business has a 50-day moving average price of C$227.99 and a 200 day moving average price of C$220.42.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its quarterly earnings data on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share (EPS) for the quarter. The business had revenue of C$17.96 billion for the quarter. Royal Bank of Canada had a return on equity of 15.37% and a net margin of 20.88%. On average, equities analysts predict that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 22nd will be given a $1.64 dividend. The ex-dividend date of this dividend is Thursday, April 23rd. This represents a $6.56 annualized dividend and a dividend yield of 2.9%. Royal Bank of Canada’s payout ratio is 42.58%.

Royal Bank of Canada Company Profile

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. and other countries.