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

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$166.73 and traded as high as C$179.30. Royal Bank of Canada shares last traded at C$178.67, with a volume of 4,498,610 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RY shares. CIBC increased their price objective on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday, November 26th. TD Securities cut shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and raised their price target for the stock from C$178.00 to C$180.00 in a report on Friday, November 15th. Scotiabank lifted their price objective on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a research note on Monday, November 25th. BMO Capital Markets cut their target price on Royal Bank of Canada from C$195.00 to C$193.00 in a research report on Thursday, December 5th. Finally, National Bankshares lifted their price target on Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. Two research 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. Based on data from MarketBeat, Royal Bank of Canada currently has a consensus rating of “Buy” and an average target price of C$176.58.

Royal Bank of Canada Trading Down 0.8 %

The business has a fifty day simple moving average of C$174.92 and a two-hundred day simple moving average of C$167.12. The company has a market cap of C$249.82 billion, a PE ratio of 15.69, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 24th will be issued a $1.48 dividend. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a yield of 3.34%. The ex-dividend date is Monday, January 27th. Royal Bank of Canada’s dividend payout ratio is presently 50.31%.

Insider Activity

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 1,538 shares of Royal Bank of Canada stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total value of C$272,363.80. Following the sale, the insider now owns 25 shares in the company, valued at C$4,427.24. The trade was a 98.40 % decrease in their ownership of the stock. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total value of C$53,938.25. In the last quarter, insiders have sold 22,150 shares of company stock valued at $3,882,024.

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.