RY - Royal Bank of Canada
After hours:
| Previous close | 90.54 |
| Open | 90.01 |
| Bid | 0.00 x 800 |
| Ask | 0.00 x 800 |
| Day's range | 89.17 - 90.23 |
| 52-week range | 83.63 - 106.43 |
| Volume | |
| Avg. volume | 898,534 |
| Market cap | 124.612B |
| Beta (5Y monthly) | N/A |
| PE ratio (TTM) | 12.04 |
| EPS (TTM) | N/A |
| Earnings date | N/A |
| Forward dividend & yield | 4.00 (4.42%) |
| Ex-dividend date | 25 Jul 2023 |
| 1y target est | N/A |
- Zacks
Royal Bank of Canada (RY) Stock Down 1% as Q2 Earnings Fall
An increase in provisions and non-interest expenses hurt Royal Bank of Canada's (RY) fiscal Q2 earnings, while higher revenues and decent loan demand offer support.
- Reuters
RBC, TD miss profit estimates as bad loan provisions climb; CIBC beats
Canada's two biggest lenders, Royal Bank of Canada and TD, missed analysts' estimates for quarterly earnings on Thursday as tough economic conditions spurred the banks to make higher provisions for borrowers falling behind on repayments. "We're confident that this was the right decision," TD Chief Financial Officer Kelvin Tran said in an interview. Tran said the bank, Canada's second-biggest lender, was still focused on its retail network expansion in the U.S. to accelerate organic growth.
- Reuters
Exclusive-Glencore CEO to meet Teck shareholders in Toronto in bid for deal support
Glencore Plc Chief Executive Gary Nagle plans to meet with some of Teck Resources Ltd's Canadian shareholders in Toronto this Thursday to personally lobby them for support of Glencore's proposed takeover of the copper and zinc miner, according to a source who was invited. Royal Bank of Canada's RBC Capital Markets will host the Toronto lunch meeting, according to Jonathan Case of CI Global Asset Management, a Teck shareholder who was invited.
- Reuters
Canada's RBC reiterates forecast for moderate recession after profit beat
The views come against the backdrop of the Bank of Canada hiking its key interest rate to a 15-year high in January to rein in inflation, with tighter monetary policies at home and abroad fueling economic turbulence and raising recession fears. Still, as economic uncertainty persists, banks are building provisions in case of delays or defaults in loan repayments by borrowers who have already been squeezed by high inflation since last year. "While central banks have successfully reigned in peak core inflation, strong services demand, labor shortages and reopening of China's economy still present a challenge to getting firm control within stated target ranges," RBC's Chief Executive Officer Dave McKay said.
- Motley Fool
Why Is Royal Bank of Canada's Dividend So High?
The high yield on offer from the Royal Bank of Canada isn't shocking, but it is an opportunity for long-term investors.
- Reuters
RBC's City National Bank settles U.S. redlining claims in Los Angeles
(Reuters) -City National Bank, a unit of Royal Bank of Canada, agreed to commit more than $31 million to boost lending to Black and Hispanic home buyers in the Los Angeles area, in the U.S. Department of Justice's largest settlement over illegal redlining. Thursday's settlement was part of Attorney General Merrick Garland's Combatting Redlining Initiative, launched in Oct. 2021 to combat housing discrimination. The Justice Department accused City National of violating the federal Fair Housing Act by having "avoided" servingmajority-Black and majority-Hispanic neighborhoods in the Los Angeles area between 2017 and 2020.
- Yahoo Finance UK
What to expect from the pound in 2023
Although the pound has quickly recovered from its record lows, trading back above $1.2000, it will need to hold above this level to gain investor confidence going into the new year.
- Motley Fool
Want to Collect a Dividend Every Month Next Year? Buy These 3 High-Yielding Stocks
Dividend stocks typically pay a dividend every three months. Three stocks that together can generate regular, monthly income for your portfolio are Merck & Co. (NYSE: MRK), Royal Bank of Canada (NYSE: RY), and Camping World Holdings (NYSE: CWH). Merck is a top drug manufacturer with one of the best-selling products in the healthcare industry, Keytruda.
- Investing.com
Royal Bank of Canada posts dip in Q4 income amid macroeconomic uncertainty
By Scott Kanowsky
- Motley Fool
HSBC is Bidding Farewell to its Canadian Customers
British bank HSBC used to bill itself as "the world's local bank," but the emphasis is increasingly on local and less on the world part of...
- Motley Fool
Investors Liked These 2 Stock Buyouts Tuesday
Investors settled in for a largely quiet trading session on Tuesday. With a speech expected from Federal Reserve chair Jerome Powell on Wednesday, most market participants were content to wait and see what the central banker will say about the future path of monetary policy.
- Reuters
Analysis-RBC tightens grip at home with $10 billion HSBC Canada bid, regulatory risks loom
Royal Bank of Canada's swift move to buy HSBC's Canada unit for C$13.5 billion ($10 billion) strengthens its pole position at home, but faces a long road to clear regulatory challenges. It comes just as Canada's housing market, one of the bank's key earnings drivers, faces a sharp downturn due to rising interest rates and analysts forecast more declines in house prices. The transaction is also fraught with regulatory risks, analysts said, though RBC argues that HSBC's Canada business accounts for just 2% of Canadian banking market share.
- The Guardian
HSBC quits Canada, selling its business to RBC for £8.4bn
London-headquartered bank has been struggling to navigate political pressure from both Beijing and the west
- Zacks
Visa (V), RBC Team Up to Ease Installment Payments in Canada
Visa (V) collaborates with Canada-based RBC to enable the latter's personal credit cardholders to engage in seamless installment payments, leveraging Installments enabled by Visa.
- Reuters
Royal Bank of Canada eyes 2030 emission cuts in lending portfolio
Royal Bank of Canada on Wednesday released interim 2030 targets to cut carbon emissions linked to some of its loans, yet drew criticism from environmental campaigners for not going far enough. For the more contentious issue of Scope 3 emissions, those caused by the use of products such as gasoline, the bank said it aimed to reduce them by 11% to 27%, with the final figure depending in large part on government policies over the period. Paul Schreiber, who assesses financial institutions and their pledges for non-profit Reclaim Finance, said RBC's plan did not go far enough, including the choice of an intensity target rather than committing to absolute cuts in emissions.
- Reuters
Canada's watchdog launches investigation into RBC over climate complaints
The federal law enforcement body said it has commenced an inquiry on the bank's "alleged deceptive marketing practices after receiving an application requesting an inquiry under section 9 on behalf of six Canadian residents." Regulators in the Americas and Europe have increasingly been worried about greenwashing, whereby companies exaggerate their environmental credentials, and also about those who downplay the impact of global warming. RBC in an emailed statement to Reuters said it strongly disagreed with the allegations adding it "believes the complaint to be unfounded and not in line with Canada's climate plan."
- Reuters
RBC cuts 10 investment banking jobs in U.S., spokesperson says
The cuts, which represent 1% of its U.S. investment banking division, were in line with "normal attrition" and the staff laid off are part of U.S. capital markets division, the spokesperson said. RBC is Canada's biggest bank and its capital markets business reported a 58% drop in net income in the third quarter to C$479 million ($350 million), primarily because of the impact of loan underwriting markdowns of C$385 million in the United States.
- Zacks
Royal Bank of Canada (RY) Stock Down 2.5% as Q3 Earnings Fall
Higher provisions and a decline in non-interest income hurt Royal Bank of Canada's (RY) fiscal Q3 earnings.
- Motley Fool
Royal Bank of Canada (RY) Q3 2022 Earnings Call Transcript
Speaking today will be Dave McKay, president and chief executive officer; Nadine Ahn, chief financial officer; and Graeme Hepworth, chief risk officer. As noted on Slide 1, our comments may contain forward-looking statements, which involve assumptions and have inherent risks and uncertainties.
- Motley Fool
3 Top Bank Stocks You Can Buy Today
Rates are heading higher, leading some to fear a recession. Investors should think long-term here and look at Canadian banks.
