Royal Bank of Canada (TSE:RY) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY's share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$169.81 and traded as high as C$181.75. Royal Bank of Canada shares last traded at C$181.29, with a volume of 2,439,896 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RY. Jefferies Financial Group decreased their target price on Royal Bank of Canada from C$195.00 to C$180.00 in a research report on Monday, April 21st. Cibc World Mkts raised Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Canaccord Genuity Group set a C$194.00 price objective on Royal Bank of Canada and gave the stock a "buy" rating in a report on Tuesday, June 24th. UBS Group decreased their price objective on Royal Bank of Canada from C$198.00 to C$196.00 in a report on Thursday, May 22nd. Finally, Scotiabank raised Royal Bank of Canada to a "strong-buy" rating in a report on Thursday, May 15th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Royal Bank of Canada presently has an average rating of "Buy" and a consensus target price of C$184.54.

Royal Bank of Canada Stock Up 0.5%

The stock has a market cap of C$256.53 billion, a PE ratio of 15.80, a P/E/G ratio of 3.42 and a beta of 0.84. The firm has a 50-day simple moving average of C$174.48 and a 200-day simple moving average of C$169.81.

Royal Bank of Canada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 22nd will be issued a $1.54 dividend. The ex-dividend date of this dividend is Thursday, July 24th. This represents a $6.16 annualized dividend and a dividend yield of 3.40%. This is a boost from Royal Bank of Canada's previous quarterly dividend of $1.48. Royal Bank of Canada's dividend payout ratio is presently 49.49%.

Insider Transactions at Royal Bank of Canada

In other Royal Bank of Canada news, Director David Ian Mckay sold 20,304 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of C$175.47, for a total transaction of C$3,562,730.70. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the firm's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of C$175.47, for a total value of C$54,044.58. Over the last quarter, insiders have sold 62,731 shares of company stock valued at $10,663,017.

Royal Bank of Canada Company Profile

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.

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