Royal Bank of Canada (TSE:RY) Share Price Passes Above 200 Day Moving Average – Here’s Why

Royal Bank of Canada (TSE:RY) (NYSE:RY) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-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 traded.

Analyst Ratings Changes

RY has been the subject of several research reports. TD Securities lowered shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and increased their price objective for the company from C$178.00 to C$180.00 in a research report on Friday, November 15th. Scotiabank increased their price target on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. National Bankshares raised their price objective on Royal Bank of Canada from C$181.00 to C$188.00 in a research note on Thursday, December 5th. Finally, 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. Two analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of C$176.58.

Royal Bank of Canada Stock Up 1.0 %

The firm has a market capitalization of C$245.21 billion, a PE ratio of 15.40, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The company’s 50-day simple moving average is C$173.76 and its 200 day simple moving average is C$163.10.

Royal Bank of Canada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, February 24th will be given a dividend of $1.48 per share. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Monday, January 27th. This represents a $5.92 dividend on an annualized basis and a yield of 3.40%. Royal Bank of Canada’s dividend payout ratio is presently 50.31%.

Insiders Place Their Bets

In other news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 25 shares in the company, valued at C$4,427.24. This represents a 98.40 % decrease in their ownership of the stock.

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.