Royal Bank of Canada (TSE:RY) Shares Pass Above 200-Day Moving Average – Here’s Why

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$160.58 and traded as high as C$177.78. Royal Bank of Canada shares last traded at C$177.07, with a volume of 2,447,006 shares traded.

Analysts Set New Price Targets

Several analysts have weighed in on RY shares. BMO Capital Markets reduced their price objective on Royal Bank of Canada from C$195.00 to C$193.00 in a research note on Thursday, December 5th. Scotiabank raised their price target on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a research report on Monday, November 25th. TD Securities downgraded shares of Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their price objective for the company from C$178.00 to C$180.00 in a report on Friday, November 15th. National Bankshares raised their target price on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a report on Thursday, December 5th. Finally, Bank of America upped their price target on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of C$176.58.

Royal Bank of Canada Stock Down 0.4 %

The firm has a market capitalization of C$242.96 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 3.42 and a beta of 0.84. The stock’s 50-day moving average price is C$173.45 and its 200 day moving average price is C$161.01.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 3.44%. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.42. Royal Bank of Canada’s dividend payout ratio (DPR) is currently 50.31%.

Insiders Place Their Bets

In other news, Senior Officer Douglas Antony Guzman sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of C$166.96, for a total transaction of C$1,252,207.50. Following the completion of the sale, the insider now owns 25 shares in the company, valued at C$4,174.03. This trade represents a 99.67 % decrease in their position. Over the last 90 days, insiders have sold 26,038 shares of company stock valued at $4,379,721.

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.