Royal Bank of Canada (TSE:RY) Shares Cross Above 200 Day Moving Average – Should You Sell?

Shares of Royal Bank of Canada (TSE:RY) (NYSE:RY) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$154.62 and traded as high as C$173.05. Royal Bank of Canada shares last traded at C$172.43, with a volume of 1,967,300 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RY shares. Canaccord Genuity Group lifted their price objective on shares of Royal Bank of Canada from C$159.50 to C$172.00 in a research note on Thursday, August 29th. National Bankshares raised their price target on Royal Bank of Canada from C$160.00 to C$169.00 in a research report on Thursday, August 29th. Barclays lifted their price target on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a research note on Tuesday, August 20th. TD Securities downgraded Royal Bank of Canada from a “buy” rating to a “hold” rating and lifted their price target for the company from C$178.00 to C$180.00 in a research note on Friday. Finally, Cormark upped their price objective on Royal Bank of Canada from C$166.00 to C$171.00 in a research report on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of C$163.54.

Royal Bank of Canada Stock Down 0.5 %

The firm has a market cap of C$241.29 billion, a P/E ratio of 15.10, a PEG ratio of 3.42 and a beta of 0.84. The stock’s 50-day simple moving average is C$169.13 and its 200 day simple moving average is C$155.17.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last posted its earnings results on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share for the quarter, topping analysts’ consensus estimates 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%. On average, research analysts forecast that Royal Bank of Canada will post 12.3454675 earnings per share for the current fiscal year.

Royal Bank of Canada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 22nd will be given a dividend of $1.42 per share. The ex-dividend date is Thursday, October 24th. This represents a $5.68 annualized dividend and a dividend yield of 3.32%. Royal Bank of Canada’s dividend payout ratio (DPR) is presently 50.31%.

Insider Buying and Selling at Royal Bank of Canada

In other news, Senior Officer Douglas Antony Guzman sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of C$164.60, for a total value of C$1,646,000.00. Following the completion of the transaction, the insider now owns 25 shares of the company’s stock, valued at C$4,115. This represents a 99.75 % decrease in their ownership of the stock. Also, Director David Ian Mckay sold 74,852 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. In the last ninety days, insiders sold 144,770 shares of company stock worth $23,959,265.

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.