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

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY shares 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.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RY. National Bankshares set a C$179.00 price target on Royal Bank of Canada and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. UBS Group decreased their target price on shares of Royal Bank of Canada from C$198.00 to C$196.00 in a research report on Thursday, May 22nd. CIBC increased their target price on Royal Bank of Canada from C$182.00 to C$183.00 and gave the stock an "outperform" rating in a research report on Thursday, June 5th. Jefferies Financial Group decreased their price objective on shares of Royal Bank of Canada from C$195.00 to C$180.00 in a research note on Monday, April 21st. Finally, National Bank Financial lowered Royal Bank of Canada from an "outperform" rating to a "sector perform" rating in a research report on Thursday, May 29th. Two analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Royal Bank of Canada currently has a consensus rating of "Buy" and an average price target of C$183.75.

Royal Bank of Canada Price Performance

The company has a fifty day moving average price of C$169.95 and a 200 day moving average price of C$169.66. The company has a market capitalization of C$247.13 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Thursday, July 24th will be given a $1.54 dividend. This is an increase from Royal Bank of Canada's previous quarterly dividend of $1.48. This represents a $6.16 annualized dividend and a yield of 3.53%. Royal Bank of Canada's dividend payout ratio (DPR) is currently 49.49%.

Insider Activity

In related news, Director David Ian Mckay sold 20,304 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of C$160.27, for a total value of C$3,254,042.89. Also, Senior Officer Jennifer Kristine Publicover sold 401 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 value of C$64,266.71. Following the completion of the transaction, the insider now owns 152 shares of the company's stock, valued at C$24,360.45. This trade represents a 72.51% decrease in their position. Over the last 90 days, insiders have sold 41,718 shares of company stock valued at $6,975,879.

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.