Royal Bank of Canada (TSE:RY) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$164.21 and traded as high as C$174.42. Royal Bank of Canada shares last traded at C$170.92, with a volume of 3,929,527 shares trading hands.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Canaccord Genuity Group lifted their price objective on Royal Bank of Canada from C$188.00 to C$191.00 in a research note on Thursday, December 5th. CIBC lifted their price objective on Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday, November 26th. Barclays raised Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. Scotiabank lifted their price objective on Royal Bank of Canada from C$167.00 to C$197.00 in a research note on Monday, November 25th. Finally, National Bankshares lifted their target price on Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of C$176.58.

Royal Bank of Canada Stock Down 2.0 %

The company has a 50-day simple moving average of C$174.04 and a two-hundred day simple moving average of C$164.21. The firm has a market cap of C$241.00 billion, a PE ratio of 15.14, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, January 27th will be given a $1.48 dividend. The ex-dividend date is Monday, January 27th. This represents a $5.92 annualized dividend and a yield of 3.46%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.42. Royal Bank of Canada’s payout ratio is currently 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 on Tuesday, December 17th. The stock was 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 of the company’s stock, valued at C$4,427.24. This 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.