According to Zacks, “ROYAL BANK of Canada operate under the master brand name of RBC. They are Canada’s largest bank as measured by assets and market capitalization, and one of North America’s leading diversified financial services companies. They provide personal and commercial banking, wealth management services, insurance, corporate and investment banking, and transaction processing services on a global basis. They have employee approximately Seventy Thousant full- and part-time employees who serve more than 15 million personal, business, public sector and institutional clients through offices in Canada, the U.S. and 36 other countries. “
Several other equities analysts have also weighed in on RY. Barclays restated a “sell” rating on shares of Royal Bank of Canada in a research report on Friday, May 17th. Desjardins restated a “buy” rating and set a $111.00 price target on shares of Royal Bank of Canada in a research report on Thursday, May 16th. Canaccord Genuity restated a “hold” rating on shares of Royal Bank of Canada in a research report on Friday, February 22nd. Finally, Scotiabank restated an “average” rating and set a $111.00 price target on shares of Royal Bank of Canada in a research report on Friday, February 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $99.25.
Royal Bank of Canada (NYSE:RY) (TSE:RY) last posted its earnings results on Friday, February 22nd. The financial services provider reported $1.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.66 by ($0.01). Royal Bank of Canada had a return on equity of 17.52% and a net margin of 20.85%. The firm had revenue of $8.70 billion during the quarter, compared to the consensus estimate of $8.31 billion. During the same quarter in the previous year, the company earned $2.01 EPS. Analysts forecast that Royal Bank of Canada will post 6.69 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in RY. Resources Investment Advisors Inc. purchased a new stake in Royal Bank of Canada in the first quarter valued at approximately $30,000. CWM LLC raised its stake in Royal Bank of Canada by 86.8% in the first quarter. CWM LLC now owns 409 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 190 shares in the last quarter. Financial Gravity Companies Inc. purchased a new stake in Royal Bank of Canada in the fourth quarter valued at approximately $38,000. Oppenheimer Asset Management Inc. purchased a new stake in Royal Bank of Canada in the fourth quarter valued at approximately $38,000. Finally, WP Advisors LLC purchased a new stake in Royal Bank of Canada in the first quarter valued at approximately $38,000. 42.23% of the stock is currently owned by institutional investors and hedge funds.
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 check and savings accounts; home equity and auto financing, personal lending, private banking, mutual fund, self-directed brokerage account, and guaranteed investment certificate services; and credit cards, and payment products and solutions for individuals.
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