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

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$152.09 and traded as high as C$172.94. Royal Bank of Canada shares last traded at C$172.09, with a volume of 6,831,518 shares changing hands.

Analyst Upgrades and Downgrades

RY has been the topic of several recent analyst reports. UBS Group set a C$165.00 target price on shares of Royal Bank of Canada and gave the company a "buy" rating in a research note on Tuesday, July 2nd. Canaccord Genuity Group upped their price target on shares of Royal Bank of Canada from C$159.50 to C$172.00 in a research note on Thursday, August 29th. Desjardins upped their price target on shares of Royal Bank of Canada from C$156.00 to C$163.00 and gave the stock a "buy" rating in a research note on Tuesday, August 6th. Cormark increased their target price on shares of Royal Bank of Canada from C$166.00 to C$171.00 in a research report on Thursday, August 29th. Finally, Bank of America increased their target price on shares of Royal Bank of Canada from C$162.00 to C$180.00 in a research report on Thursday, August 29th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Royal Bank of Canada has an average rating of "Buy" and an average price target of C$163.38.

Royal Bank of Canada Stock Down 0.1 %

The company has a market cap of C$242.29 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The company's fifty day moving average price is C$165.67 and its two-hundred day moving average price is C$152.09.

Royal Bank of Canada (TSE:RY - Get Free Report) NYSE: RY last posted its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, topping the consensus estimate of C$2.95 by C$0.31. The company had revenue of C$14.63 billion during the quarter, compared to analyst estimates of C$14.27 billion. Royal Bank of Canada had a net margin of 28.67% and a return on equity of 13.68%. Research analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current year.

Royal Bank of Canada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 22nd will be issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Thursday, October 24th. Royal Bank of Canada's dividend payout ratio is currently 50.31%.

Insider Buying and Selling at Royal Bank of Canada

In other news, Director David Ian Mckay sold 74,852 shares of the business's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. In related news, Director David Ian Mckay sold 74,852 shares of the company's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total value of C$12,320,115.24. Also, Senior Officer Douglas Antony Guzman sold 7,500 shares of the company's 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 completion of the transaction, the insider now directly owns 25 shares of the company's stock, valued at approximately C$4,174.03. The trade was a 0.00 % decrease in their ownership of the stock. Over the last ninety days, insiders have sold 144,770 shares of company stock valued at $23,959,265.

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.