Royal Bank of Canada (TSE:RY) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

Royal Bank of Canada (TSE:RY) (NYSE:RY) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$164.21 and traded as high as C$174.42. Royal Bank of Canada shares last traded at C$170.92, with a volume of 3,929,527 shares.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RY. TD Securities lowered Royal Bank of Canada from a “buy” rating to a “hold” rating and upped their target price for the stock from C$178.00 to C$180.00 in a research note on Friday, November 15th. Barclays upgraded Royal Bank of Canada from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st. Scotiabank increased their price objective on Royal Bank of Canada from C$167.00 to C$197.00 in a research report on Monday, November 25th. National Bankshares increased their price objective on Royal Bank of Canada from C$181.00 to C$188.00 in a research report on Thursday, December 5th. Finally, CIBC increased their price objective on 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Royal Bank of Canada has a consensus rating of “Buy” and a consensus target price of C$176.58.

Royal Bank of Canada Trading Down 2.0 %

The company has a market capitalization of C$241.00 billion, a PE ratio of 15.14, a PEG ratio of 3.42 and a beta of 0.84. The firm has a fifty day moving average of C$174.04 and a two-hundred day moving average of C$164.21.

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, January 27th will be issued a dividend of $1.48 per share. The ex-dividend date of this dividend is Monday, January 27th. This is a boost from Royal Bank of Canada’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a yield of 3.46%. Royal Bank of Canada’s dividend payout ratio is currently 50.31%.

Insider Activity at Royal Bank of Canada

In other Royal Bank of Canada news, Senior Officer Douglas Antony Guzman sold 1,538 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of C$177.09, for a total value of C$272,363.80. Following the completion of the sale, the insider now owns 25 shares in the company, valued at approximately C$4,427.24. This trade represents a 98.40 % decrease in their position.

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.