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

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$168.12 and traded as high as C$169.77. Royal Bank of Canada shares last traded at C$169.34, with a volume of 3,706,118 shares traded.

Analysts Set New Price Targets

Several research firms recently commented on RY. Scotiabank raised their price target on shares of Royal Bank of Canada from C$167.00 to C$197.00 in a report on Monday, November 25th. Barclays upgraded shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 21st. UBS Group cut their price objective on shares of Royal Bank of Canada from C$200.00 to C$192.00 in a research report on Friday. National Bankshares raised their price objective on shares of Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. Finally, CIBC raised their price objective on shares of Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday, November 26th. 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 data from MarketBeat, Royal Bank of Canada presently has a consensus rating of "Buy" and an average target price of C$178.83.

Royal Bank of Canada Stock Down 0.4 %

The company has a market cap of C$238.67 billion, a P/E ratio of 14.70, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The stock's 50-day moving average price is C$173.75 and its 200 day moving average price is C$168.47.

Royal Bank of Canada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, February 24th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, January 27th. This represents a $5.92 dividend on an annualized basis and a yield of 3.51%. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.42. Royal Bank of Canada's payout ratio is 49.49%.

Insider Buying and Selling

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

About Royal Bank of Canada

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.