Royal Bank of Canada (TSE:RY) Stock Price Crosses Above 200-Day Moving Average - Here's Why

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$170.15 and traded as high as C$182.99. Royal Bank of Canada shares last traded at C$182.36, with a volume of 3,591,826 shares traded.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. National Bank Financial downgraded shares of Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research report on Thursday, May 29th. Scotiabank raised shares of Royal Bank of Canada to a "strong-buy" rating in a research report on Thursday, May 15th. Cibc World Mkts raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. National Bankshares set a C$179.00 price objective on shares of Royal Bank of Canada and gave the company an "outperform" rating in a research report on Thursday, May 22nd. Finally, UBS Group decreased their price objective on shares of Royal Bank of Canada from C$198.00 to C$196.00 in a research report on Thursday, May 22nd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Royal Bank of Canada presently has an average rating of "Buy" and an average price target of C$184.54.

Royal Bank of Canada Price Performance

The company's fifty day simple moving average is C$177.23 and its two-hundred day simple moving average is C$170.37. The stock has a market cap of C$255.29 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The company also recently announced 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 is Thursday, July 24th. This represents a $6.16 annualized dividend and a dividend yield of 3.41%. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.48. Royal Bank of Canada's dividend payout ratio is currently 49.49%.

Insider Buying and Selling

In other Royal Bank of Canada news, Senior Officer Graeme Ashley Hepworth sold 308 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of C$182.30, for a total transaction of C$56,148.92. Also, Senior Officer Jennifer Kristine Publicover sold 401 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of C$182.30, for a total transaction of C$73,102.98. Following the transaction, the insider owned 152 shares of the company's stock, valued at C$27,709.86. This represents a 72.51% decrease in their position. Over the last 90 days, insiders sold 63,039 shares of company stock worth $11,175,413.

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.