Royal Bank of Canada (TSE:RY) Stock Price Passes Above 200-Day Moving Average - Here's What Happened

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY's stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$160.58 and traded as high as C$177.78. Royal Bank of Canada shares last traded at C$177.07, with a volume of 2,447,006 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have commented on RY. Bank of America boosted their price objective on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a research report on Thursday, August 29th. BMO Capital Markets dropped their price objective on Royal Bank of Canada from C$195.00 to C$193.00 in a research report on Thursday, December 5th. CIBC lifted their target price on Royal Bank of Canada from C$167.00 to C$176.00 in a research report on Tuesday, November 26th. Barclays raised shares of Royal Bank of Canada from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 21st. Finally, Cormark lifted their price target on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a report on Thursday, August 29th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of C$176.58.

Royal Bank of Canada Price Performance

The stock has a market cap of C$243.94 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 3.42 and a beta of 0.84. The company's fifty day simple moving average is C$173.19 and its two-hundred day simple moving average is C$160.58.

Royal Bank of Canada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, January 27th will be given a $1.48 dividend. This is a positive change from Royal Bank of Canada's previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a yield of 3.42%. Royal Bank of Canada's dividend payout ratio is presently 50.31%.

Insider Transactions at Royal Bank of Canada

In related news, Senior Officer Douglas Antony Guzman sold 7,500 shares of Royal Bank of Canada stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of C$166.96, for a total transaction of C$1,252,207.50. Following the sale, the insider now directly owns 25 shares in the company, valued at approximately C$4,174.03. This trade represents a 99.67 % decrease in their ownership of the stock.

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.