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

Royal Bank of Canada (TSE:RY) (NYSE:RY) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$239.99 and traded as high as C$288.75. Royal Bank of Canada shares last traded at C$288.41, with a volume of 2,586,849 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. TD Securities decreased their price objective on Royal Bank of Canada from C$260.00 to C$259.00 and set a “buy” rating for the company in a report on Friday, February 27th. TD raised their target price on Royal Bank of Canada from C$267.00 to C$272.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Jefferies Financial Group lifted their price target on Royal Bank of Canada from C$226.00 to C$232.00 in a research report on Wednesday, May 20th. Canaccord Genuity Group boosted their price target on Royal Bank of Canada from C$280.00 to C$282.00 and gave the company a “buy” rating in a report on Friday, June 5th. Finally, Canadian Imperial Bank of Commerce boosted their price target on Royal Bank of Canada from C$258.00 to C$279.00 and gave the company a “neutral” rating in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of C$260.81.

Royal Bank of Canada Price Performance

The business’s fifty day simple moving average is C$258.41 and its two-hundred day simple moving average is C$239.99. The company has a market cap of C$400.79 billion, a PE ratio of 18.75, a PEG ratio of 3.42 and a beta of 1.08.

Royal Bank of Canada (TSE:RY) (NYSE:RY) last issued its quarterly earnings data on Thursday, May 28th. The financial services provider reported C$3.90 earnings per share for the quarter. Royal Bank of Canada had a net margin of 18.40% and a return on equity of 15.95%. The business had revenue of C$17.45 billion during the quarter. As a group, analysts predict that Royal Bank of Canada will post 12.3454675 EPS for the current year.

Royal Bank of Canada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 22nd were paid a $1.64 dividend. This represents a $6.56 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Thursday, April 23rd. Royal Bank of Canada’s payout ratio is currently 41.35%.

Insiders Place Their Bets

In other Royal Bank of Canada news, insider Katherine Gibson sold 462 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of C$261.83, for a total value of C$120,965.46. Following the sale, the insider directly owned 290 shares of the company’s stock, valued at approximately C$75,930.70. This trade represents a 61.44% decrease in their ownership of the stock. Also, insider Bruce Washington Ross sold 41,724 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of C$279.37, for a total value of C$11,656,433.88. Following the completion of the sale, the insider directly owned 235 shares in the company, valued at approximately C$65,651.95. The trade was a 99.44% decrease in their ownership of the stock. Over the last quarter, insiders sold 138,674 shares of company stock worth $36,837,978.

About Royal Bank of Canada

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 101,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 19 million clients in Canada, the U.S.