Royal Bank of Canada (TSE:RY) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Royal Bank of Canada shares crossed above their 200-day moving average, reaching C$276.20 compared with the C$273.66 average, though they remained below the 50-day average of C$285.56.
• Analysts maintain a “Moderate Buy” consensus, with eight Buy ratings and four Holds and an average price target of C$292.86, implying potential upside from recent levels.
• The bank reported C$4.28 in quarterly EPS and announced a quarterly dividend of C$1.76, or C$7.04 annualized, for a 2.6% yield; however, insiders sold more than 104,000 shares worth approximately C$29.7 million over the past three months.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY's stock price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$273.66 and traded as high as C$276.20. Royal Bank of Canada shares last traded at C$276.02, with a volume of 3,738,437 shares traded.

Wall Street Analysts Forecast Growth

RY has been the topic of several recent research reports. Canaccord Genuity Group raised their price target on shares of Royal Bank of Canada from C$310.00 to C$318.00 and gave the company a "buy" rating in a research report on Friday, August 28th. Raymond James Financial lifted their price target on Royal Bank of Canada from C$270.50 to C$306.00 and gave the company a "market perform" rating in a research note on Wednesday, August 12th. Scotia boosted their price objective on Royal Bank of Canada from C$311.00 to C$312.00 and gave the stock a "sector outperform" rating in a report on Friday, August 28th. TD dropped their target price on Royal Bank of Canada from C$307.00 to C$306.00 and set a "buy" rating on the stock in a report on Friday, August 28th. Finally, National Bank Financial lifted their target price on Royal Bank of Canada from C$318.00 to C$321.00 and gave the company an "outperform" rating in a research report on Sunday, August 30th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$292.86.

Royal Bank of Canada Price Performance

The company's fifty day moving average price is C$285.56 and its 200 day moving average price is C$273.66. The company has a market cap of C$382.13 billion, a PE ratio of 17.40, a P/E/G ratio of 3.42 and a beta of 0.97.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last released its quarterly earnings results on Thursday, August 27th. The financial services provider reported C$4.28 earnings per share for the quarter. Royal Bank of Canada had a net margin of 15.92% and a return on equity of 16.11%. The business had revenue of C$18.54 billion for the quarter. On average, analysts forecast that Royal Bank of Canada will post 12.35 EPS for the current year.

Royal Bank of Canada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, November 24th will be paid a $1.76 dividend. This represents a $7.04 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Monday, October 26th. Royal Bank of Canada's payout ratio is presently 41.49%.

Insiders Place Their Bets

In related news, insider Kelly Bradley sold 5,142 shares of Royal Bank of Canada stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of C$283.07, for a total transaction of C$1,455,545.94. Following the sale, the insider directly owned 1,043 shares in the company, valued at approximately C$295,242.01. This trade represents a 83.14% decrease in their ownership of the stock. Also, insider Maria Elena Douvas sold 9,604 shares of Royal Bank of Canada stock in a transaction on Thursday, October 1st. The stock was sold at an average price of C$275.20, for a total value of C$2,643,020.80. In the last three months, insiders sold 104,579 shares of company stock valued at $29,698,322.

About Royal Bank of Canada

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.