RY - Royal Bank of Canada

NYSE - NYSE Delayed Price. Currency in USD
73.72
-0.97 (-1.30%)
As of 1:21PM EDT. Market open.
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Previous Close74.69
Open74.46
Bid73.71 x 1300
Ask73.72 x 900
Day's Range73.70 - 74.82
52 Week Range65.76 - 81.56
Volume482,473
Avg. Volume864,201
Market Cap105.816B
Beta (3Y Monthly)1.00
PE Ratio (TTM)11.73
EPS (TTM)6.29
Earnings DateNov 30, 2016 - Dec 5, 2016
Forward Dividend & Yield3.15 (4.22%)
Ex-Dividend Date2019-10-23
1y Target Est88.84
Trade prices are not sourced from all markets
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  • Bloomberg

    RBC Misses Estimates as Capital Markets Weigh on Results

    (Bloomberg) -- Royal Bank of Canada posted fiscal third-quarter earnings that missed analysts’ estimates, hurt by a slowdown in the company’s capital-markets division.Canada’s largest lender by assets had C$653 million ($491 million) in profit from RBC Capital Markets, a 6.4% decline, the result of lower trading revenue and a drop in investment-banking fees, according to a statement Wednesday. Earnings from RBC Investor & Treasury Services also fell, sinking 24%, countering record profits in Canadian banking and wealth management.Canadian banks have been facing a slowdown in domestic investment banking, with fewer equity financings and corporate bond sales along with lower acquisition activity crimping revenue in their capital-markets divisions. Low market volatility and declining interest rates, meanwhile, put additional pressure on results.Royal Bank had “a modest miss against expectations as the macro environment weighed on its Capital Markets results as well as those from its Investor & Treasury Services operations,” Barclays Plc bank analyst John Aiken said in a note to clients. “Despite the miss, the results from its other segments were solid.”Across the Toronto-based bank, net income for the period ended July 31 rose 5% from a year earlier, with adjusted per-share earnings of C$2.26 missing the C$2.30 average estimate of 13 analysts surveyed by Bloomberg.“On the markets-related side, when clients are choosing to do less activity, that will follow through with lower results for us, and that’s natural,” Chief Financial Officer Rod Bolger said in a phone interview. “So as client activity picks up, as we move into the fall, perhaps our results will pick up as well.”Royal Bank is the first of the large Canadian lenders to report quarterly results, and Canada’s six biggest lenders are expected to post earnings growth of 5% for the quarter, the median of estimates compiled by Bloomberg Intelligence.Canadian BankingRoyal Bank is one of Canada’s most diversified banks, including worldwide operations in asset management and capital markets and ownership of Los Angeles-based commercial and private lender City National Bank. Yet Canadian personal-and-commercial banking remains the company’s biggest division. The operation posted a 7.9% jump in earnings to a record C$1.61 billion, representing almost half of overall profit at the bank. Wealth-management earnings rose 11% to C$639 million.The Toronto-based lender saw improvements in two areas of concern for investors and analysts: expenses and provisions. Growth in non-interest expenses cooled after three quarters of accelerated growth as the bank invested in technology and spent more on hiring, marketing and new initiatives. Still, costs reached a record C$5.99 billion, up 2.3% from a year earlier.“As the revenue headwinds might be picking up, given the interest rate outlook, we saw that we needed to slow that rate of growth,” Bolger said. “We expect to continue to grow expenses, albeit at a much slower rate than what we’ve been growing over the last couple years.”Royal Bank has been facing elevated levels of provisions and impaired loans this year, notably in its wholesale lending portfolio in areas such as the U.S. oil-and-gas industry. In the third quarter, the bank set aside C$425 million, little changed from the previous quarter and up 20% from a year earlier.Royal Bank’s shares were little changed at C$99.44 at 9:51 a.m. in Toronto. The stock has risen 6.4% this year, outperforming the 4.4% gain for the eight-company S&P/TSX Commercial Banks Index.Separately, Royal Bank said that Doug McGregor, group head of RBC Capital Markets and RBC Investor & Treasury Services, will retire on Jan. 31 after 37 years at the bank. Derek Neldner, global head of investment banking at RBC Capital Markets, will become group head of capital markets effective Nov. 1, while Doug Guzman, who oversees wealth management and insurance, will take over Investor & Treasury Services.Other takeaways from the bank’s quarterly results:The company routinely expands mortgage balances by about 5% each quarter, topping growth at its rivals. Domestic mortgage balances rose 5.9% to C$257.5 billion in the fiscal third quarter.Most Canadian banks increase their quarterly dividends twice a year. Royal Bank stuck to that tradition, boosting its payout 2.9% to C$1.05.(Updates with CFO’s comments starting in sixth paragraph, shares in 12th.)\--With assistance from Divya Balji.To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, ;David Scanlan at dscanlan@bloomberg.net, Daniel Taub, Steve DicksonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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  • CNW Group

    RBC announces retirement of RBC Capital Markets and RBC Investor & Treasury Services Group Head, Doug McGregor

    TORONTO , Aug. 21, 2019 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced that Doug McGregor , Group Head, RBC Capital Markets and RBC Investor & Treasury Services, will retire on January 31, 2020 after 37 years at the bank. "Under Doug's leadership, RBC Capital Markets has executed on a successful growth strategy to create a top 10 global investment bank with a strong client focus, exceptional talent, and a disciplined approach to risk management," said Dave McKay , CEO of RBC. "Doug will be leaving the business well-positioned for continued success and on behalf of the Board of Directors, our shareholders, clients and employees, I'd like to thank Doug for his significant contributions to RBC.

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    Royal Bank of Canada Reports Third Quarter 2019 Results

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