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

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$170.51 and traded as high as C$179.48. Royal Bank of Canada shares last traded at C$178.61, with a volume of 8,520,034 shares changing hands.

Wall Street Analyst Weigh In

RY has been the topic of several research reports. Barclays lifted their price objective on shares of Royal Bank of Canada from C$180.00 to C$182.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. UBS Group lowered 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. 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. Jefferies Financial Group lowered their price target on shares of Royal Bank of Canada from C$195.00 to C$180.00 in a research report on Monday, April 21st. Finally, Canaccord Genuity Group set a C$194.00 price target on shares of Royal Bank of Canada and gave the company a "buy" rating in a research report on Tuesday, June 24th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of C$184.54.

Royal Bank of Canada Stock Performance

The firm has a market cap of C$253.38 billion, a PE ratio of 15.60, a PEG ratio of 3.42 and a beta of 0.84. The stock's 50 day simple moving average is C$177.57 and its 200 day simple moving average is C$170.51.

Royal Bank of Canada Increases Dividend

The firm also recently disclosed 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. This represents a $6.16 dividend on an annualized basis and a dividend yield of 3.44%. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.48. The ex-dividend date is Thursday, July 24th. Royal Bank of Canada's payout ratio is presently 49.49%.

Insider Activity at Royal Bank of Canada

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

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.