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

Key Points

• The Royal Bank of Canada (TSE:RY) stock recently crossed above its 200-day moving average, indicating potential upward momentum with a peak trading price of C$206.25.
• Research analysts have revised target prices significantly upward, with Scotiabank and Bank of America setting targets of C$210.00 and C$227.00 respectively, reflecting positive sentiment towards the stock.
• The bank declared a quarterly dividend of $1.54, resulting in an annualized yield of 3.0% for shareholders of record noted for payment on November 24th.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$179.42 and traded as high as C$206.25. Royal Bank of Canada shares last traded at C$205.03, with a volume of 2,926,811 shares traded.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Scotiabank lifted their target price on Royal Bank of Canada from C$186.00 to C$210.00 and gave the stock an "outperform" rating in a report on Thursday, August 28th. Bank of America lifted their price objective on Royal Bank of Canada from C$214.00 to C$227.00 in a report on Thursday, August 28th. Erste Group Bank raised Royal Bank of Canada to a "strong-buy" rating in a research note on Monday, September 22nd. Barclays lifted their price target on shares of Royal Bank of Canada from C$190.00 to C$203.00 in a research note on Thursday, August 28th. Finally, National Bankshares set a C$203.00 price objective on shares of Royal Bank of Canada and gave the stock a "sector perform" rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of C$206.00.

Royal Bank of Canada Trading Down 0.0%

The company has a market capitalization of C$289.16 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 3.42 and a beta of 1.24. The stock's 50 day moving average price is C$194.78 and its 200 day moving average price is C$179.42.

Royal Bank of Canada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Shareholders of record on Monday, November 24th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Monday, October 27th. Royal Bank of Canada's dividend payout ratio (DPR) is currently 44.78%.

Insider Transactions at Royal Bank of Canada

In related news, Director David Ian Mckay sold 20,304 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of C$182.30, for a total transaction of C$3,701,453.72. Also, Senior Officer Jennifer Kristine Publicover sold 401 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of C$182.30, for a total transaction of C$73,102.98. Following the completion of the sale, the insider owned 152 shares of the company's stock, valued at approximately C$27,709.86. This represents a 72.51% decrease in their position. Insiders have sold a total of 21,013 shares of company stock worth $3,830,706 in the last 90 days.

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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