Royal Bank of Canada (TSE:RY) Stock Passes Above 200-Day Moving Average – Time to Sell?

Royal Bank of Canada (TSE:RY) (NYSE:RY)’s share price crossed 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 changing hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Royal Bank of Canada from C$145.00 to C$150.00 in a report on Tuesday, August 20th. TD Securities boosted their target price on shares of Royal Bank of Canada from C$171.00 to C$178.00 in a research note on Thursday, August 29th. Jefferies Financial Group dropped their price target on Royal Bank of Canada from C$168.00 to C$165.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. Canaccord Genuity Group upped their price objective on Royal Bank of Canada from C$159.50 to C$172.00 in a research report on Thursday, August 29th. Finally, Bank of America increased their target price on Royal Bank of Canada from C$162.00 to C$180.00 in a report on Thursday, August 29th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of C$163.38.

Royal Bank of Canada Price Performance

The firm’s 50-day moving average price is C$168.76 and its 200-day moving average price is C$154.62. The stock has a market cap of C$243.13 billion, a P/E ratio of 15.27, a PEG ratio of 3.42 and a beta of 0.84.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last released its quarterly earnings data on Wednesday, August 28th. The financial services provider reported C$3.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$2.95 by C$0.31. The business had revenue of C$14.63 billion for the quarter, compared to the consensus estimate of C$14.27 billion. Royal Bank of Canada had a return on equity of 13.68% and a net margin of 28.67%. Sell-side analysts expect 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 announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders 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 3.29%. The ex-dividend date of this dividend is Thursday, October 24th. Royal Bank of Canada’s dividend payout ratio (DPR) is 50.31%.

Insider Buying and Selling

In related news, Director David Ian Mckay sold 74,852 shares of Royal Bank of Canada stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of C$164.59, for a total transaction of C$12,320,115.24. In other Royal Bank of Canada news, 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 value of C$1,252,207.50. Following the transaction, the insider now owns 25 shares of the company’s stock, valued at C$4,174.03. This represents a 0.00 % decrease in their position. Also, Director David Ian Mckay sold 74,852 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of C$164.59, for a total value of C$12,320,115.24. Insiders sold a total of 144,770 shares of company stock worth $23,959,265 over the last three months.

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.