On Wednesday, the Royal Bank of Canada declared its third-quarter results which thrashed market anticipations, with funds reserved to cover bad loans falling due to higher oil prices. The heightened volatility saw the trading volume jump to 16,12,510 shares.
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Royal Bank of Canada (RBC) has today announced a boost to its income, along with a slightly sweeter dividend for its third quarter of its financial year. Excluding that one-time gain, the income rose seven percent to CA$2.7 billion. During the same quarter in the prior year, the company earned $1.66 EPS. Results reflect strong earnings in Wealth Management, which benefited from the inclusion of City National Bank (City National), and strong earnings in Capital Markets and higher earnings in Personal & Commercial Banking.
RBC said its provision for credit losses had fallen to the equivalent of 0.24 per cent of its total loans during the quarter, down 12 basis points, mainly due to lower provisions in the oil and gas sector. The business had revenue of $10.26 billion for the quarter, compared to the consensus estimate of $7.27 billion.
Net income at the Wealth Management division surged 36% to CA$388 million from previous year. During the last trade, stock’s minimum price has been reached out at $63.00 while the maximum trading price moved at $64.13. The stock presently has an average rating of Hold and an average price target of C$83.15.
Royal Bank Of Canada (RY) has been rated by 5 research analysts.
Return on Assets (ROA) for Royal Bank of Canada NYSE:RY Money Center Banks is now valued at 0.90%. Year-to-date (YTD) performance of the stock illustrate upbeat trend of 22.18%. The company has a 50-day moving average price of $79.85 and a 200 day moving average price of $76.51.
Royal Bank of Canada’s (NYSE:RY)(TSE:RY) board of directors has approved a two-percent increase in its quarterly dividend payout.
Meanwhile, diluted earnings per share were reported as CA$1.88, beating out a Thomson Reuters’ consensus of CA$1.70 and increasing by CA$0.22 from CA$1.66 the year before. Royal Bank Of Canada (NYSE:RY): stock turned positive on Tuesday. Royal Bank of Canada makes up approx 0.02% of Rothschild Asset Management Inc’s portfolio.
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As the outstanding stock of Royal Bank of Canada NYSE:RY Money Center Banks is bought and sold in the stock market, the current market cap indicates the existing public opinion of the net worth of Royal Bank of Canada RY Money Center Banks. The company now has a Return on Equity of 16.50% and Return on Investment of 17.20%.
