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

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY's stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$169.59 and traded as high as C$176.19. Royal Bank of Canada shares last traded at C$174.99, with a volume of 3,094,937 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RY shares. Scotiabank upgraded shares of Royal Bank of Canada to a "strong-buy" rating in a research report on Thursday, May 15th. Barclays upped their price target on shares of Royal Bank of Canada from C$180.00 to C$182.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. 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. UBS Group reduced their price target on shares of Royal Bank of Canada from C$198.00 to C$196.00 in a research report on Thursday, May 22nd. Finally, National Bankshares set a C$179.00 price target on shares of Royal Bank of Canada and gave the company an "outperform" rating in a research report on Thursday, May 22nd. 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 company. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of C$183.75.

Royal Bank of Canada Stock Performance

The stock has a market cap of C$248.09 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The company's 50 day simple moving average is C$169.22 and its two-hundred day simple moving average is C$169.58.

Royal Bank of Canada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Thursday, July 24th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 3.51%. This is a positive change 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 at Royal Bank of Canada

In other news, Director David Ian Mckay sold 20,304 shares of the stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of C$160.27, for a total transaction of C$3,254,042.89. Also, Senior Officer Graeme Ashley Hepworth sold 308 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of C$161.89, for a total transaction of C$49,862.12. In the last quarter, insiders have sold 62,330 shares of company stock worth $10,312,755.

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.