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

Royal Bank of Canada (TSE:RY) (NYSE:RY)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$162.69 and traded as high as C$174.31. Royal Bank of Canada shares last traded at C$172.27, with a volume of 4,303,683 shares.

Wall Street Analyst Weigh In

RY has been the subject of a number of research reports. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and boosted their target price for the company from C$178.00 to C$180.00 in a research report on Friday, November 15th. BMO Capital Markets decreased their price objective on Royal Bank of Canada from C$195.00 to C$193.00 in a report on Thursday, December 5th. National Bankshares raised their target price on Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Finally, Canaccord Genuity Group raised their price objective 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, six have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Royal Bank of Canada has an average rating of “Buy” and an average price target of C$176.58.

Royal Bank of Canada Price Performance

The stock has a market capitalization of C$245.21 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The stock has a 50 day moving average price of C$173.76 and a 200-day moving average price of C$163.10.

Royal Bank of Canada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 24th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 3.40%. This is a positive change from Royal Bank of Canada’s previous quarterly dividend of $1.42. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.31%.

Insider Transactions at Royal Bank of Canada

In related news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 25 shares of the company’s stock, valued at approximately C$4,427.24. This trade represents a 98.40 % decrease in their position.

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.