Royal Bank of Canada (TSE:RY) Share Price Passes Above 200 Day Moving Average - What's Next?

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY's stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$169.51 and traded as high as C$179.49. Royal Bank of Canada shares last traded at C$179.47, with a volume of 5,281,769 shares traded.

Analyst Ratings Changes

Several research analysts recently commented on RY shares. Scotiabank upgraded Royal Bank of Canada to a "strong-buy" rating in a research note on Thursday, May 15th. CIBC boosted their price target on Royal Bank of Canada from C$182.00 to C$183.00 and gave the stock an "outperform" rating in a research note on Thursday, June 5th. National Bank Financial cut Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research note on Thursday, May 29th. Canaccord Genuity Group set a C$194.00 price objective on Royal Bank of Canada and gave the company a "buy" rating in a research note on Tuesday, June 24th. Finally, Barclays upped their price objective on Royal Bank of Canada from C$180.00 to C$182.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of C$184.54.

Royal Bank of Canada Trading Up 0.0%

The business has a 50-day moving average price of C$173.55 and a two-hundred day moving average price of C$169.66. The firm has a market capitalization of C$254.06 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 22nd will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 3.43%. This is a boost from Royal Bank of Canada's previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, July 24th. Royal Bank of Canada's dividend payout ratio is presently 49.49%.

Insider Transactions at Royal Bank of Canada

In other news, Senior Officer Jennifer Kristine Publicover sold 401 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of C$175.47, for a total transaction of C$70,363.23. Following the sale, the insider directly owned 152 shares in the company, valued at approximately C$26,671.35. This represents a 72.51% decrease in their position. Also, Director David Ian Mckay sold 20,304 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of C$175.47, for a total value of C$3,562,730.70. In the last ninety days, insiders have sold 62,731 shares of company stock worth $10,663,017.

About Royal Bank of Canada

Royal Bank of Canada is one of the two largest banks in Canada. It is a diversified financial services company, offering personal and commercial banking, wealth-management services, insurance, corporate banking, and capital markets services. The bank is concentrated in Canada, with additional operations in the U.S.