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

Shares of Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$166.73 and traded as high as C$179.30. Royal Bank of Canada shares last traded at C$178.67, with a volume of 4,498,610 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Scotiabank raised their target price on Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. CIBC increased their price objective on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research note on Tuesday, November 26th. Barclays upgraded shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 21st. Canaccord Genuity Group boosted their price objective on Royal Bank of Canada from C$188.00 to C$191.00 in a report on Thursday, December 5th. Finally, TD Securities downgraded Royal Bank of Canada from a "buy" rating to a "hold" rating and increased their target price for the stock from C$178.00 to C$180.00 in a report on Friday, November 15th. 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, the stock currently has a consensus rating of "Buy" and an average price target of C$176.58.

Royal Bank of Canada Price Performance

The firm's fifty day moving average price is C$174.87 and its 200-day moving average price is C$166.93. The company has a market cap of C$249.82 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 24th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Monday, January 27th. This is a boost from Royal Bank of Canada's previous quarterly dividend of $1.42. Royal Bank of Canada's payout ratio is 50.31%.

Insider Buying and Selling

In other news, Senior Officer Graeme Ashley Hepworth sold 308 shares of Royal Bank of Canada stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total transaction of C$53,938.25. Also, Director David Ian Mckay sold 20,304 shares of the business's stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of C$175.12, for a total value of C$3,555,721.76. Insiders sold 22,150 shares of company stock valued at $3,882,024 in the last three months.

Royal Bank of Canada Company Profile

Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, including auto financing, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses.