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

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$225.33 and traded as high as C$245.43. Royal Bank of Canada shares last traded at C$244.20, with a volume of 1,514,570 shares.

Analyst Upgrades and Downgrades

RY has been the topic of a number of research analyst reports. National Bank Financial boosted their price objective on shares of Royal Bank of Canada from C$241.00 to C$247.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Scotiabank boosted their price objective on shares of Royal Bank of Canada from C$242.00 to C$247.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Desjardins boosted their price objective on shares of Royal Bank of Canada from C$247.00 to C$250.00 and gave the stock a “buy” rating in a report on Friday, February 27th. TD Securities decreased their price objective on shares of Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, Canaccord Genuity Group boosted their price objective 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. One 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of C$244.58.

Royal Bank of Canada Price Performance

The company has a market cap of C$339.56 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 3.42 and a beta of 1.07. The business’s 50-day simple moving average is C$230.93 and its 200-day simple moving average is C$225.33.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last announced its earnings results on Thursday, February 26th. The financial services provider reported C$4.08 earnings per share (EPS) for the quarter. The company had revenue of C$17.96 billion during the quarter. Royal Bank of Canada had a net margin of 20.88% and a return on equity of 15.37%. As a group, sell-side analysts forecast that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Announces Dividend

The company also recently disclosed 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. This represents a $6.56 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, April 23rd. Royal Bank of Canada’s payout ratio is currently 42.58%.

Insiders Place Their Bets

In other news, insider Bruce Washington Ross sold 3,657 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total value of C$887,992.74. Following the completion of the transaction, the insider owned 235 shares of the company’s stock, valued at C$57,062.70. The trade was a 93.96% decrease in their ownership of the stock. Also, insider Graeme Ashley Hepworth sold 1,463 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of C$242.82, for a total transaction of C$355,245.66. Over the last quarter, insiders have sold 29,110 shares of company stock valued at $7,068,490.

Royal Bank of Canada Company Profile

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.