RY.TO - Royal Bank of Canada

Toronto - Toronto Delayed Price. Currency in CAD
-0.19 (-0.18%)
At close: 4:15PM EST
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Previous Close104.95
Bid104.77 x 0
Ask104.78 x 0
Day's Range103.35 - 104.95
52 Week Range90.10 - 109.68
Avg. Volume2,802,203
Market Cap150.235B
Beta (3Y Monthly)1.03
PE Ratio (TTM)11.95
EPS (TTM)8.77
Earnings DateFeb. 20, 2020 - Feb. 24, 2020
Forward Dividend & Yield4.20 (4.00%)
Ex-Dividend Date2019-10-23
1y Target Est110.73
  • Thomson Reuters StreetEvents

    Edited Transcript of RY.TO earnings conference call or presentation 4-Dec-19 1:00pm GMT

    Q4 2019 Royal Bank of Canada Earnings Call

  • Baystreet

    Stocks Continue Negative into Afternoon

    Equities in Toronto extended their slide from earlier this week on Thursday, as weak earnings reports ...

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  • CNW Group

    RBC Global Asset Management Inc. announces November sales results for RBC Funds, PH&N Funds and BlueBay Funds

    TORONTO , Dec. 5, 2019 /CNW/ - RBC Global Asset Management Inc. (RBC GAM Inc.) today announced November mutual fund net sales of $1.1 billion . Long-term funds had net sales of $1.1 billion and money market ...

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  • RBC executives say bank expects  challenging environment but opportunity for growth
    The Canadian Press

    RBC executives say bank expects challenging environment but opportunity for growth

    TORONTO — Royal Bank of Canada expects to face a challenging environment in the coming year amid uncertainty about where interest rates are headed but believes it's well-prepared to gain market share, RBC officials said Wednesday after the bank announced a slightly lower fourth-quarter profit compared with a year ago.The decline in RBC's fourth quarter profit was due in part to declines at its capital markets and insurance units, and increased provisions for credit losses in banking, wealth management and capital markets.In addition, net income at RBC's investor and treasury services unit fell 71 per cent or $110 million from a year ago to $45 million in the fourth quarter, primarily due to severance and costs associated with repositioning of the business.RBC chief executive Dave McKay told analysts in a conference call that the bank had to quickly reposition its investor services operations but said that such short-term moves aren't the norm."So we don't forecast having to take (another) aggressive short-term repositioning, because we are trying to get ahead of things," McKay said.His comment came a day after Bank of Montreal announced it will reduce its global workforce across the board, resulting in about $357-million in restructuring charges announced Tuesday with BMO's fourth-quarter report.Bank of Montreal said the restructuring charge, mainly due to severance, was the result of a decision to accelerate delivery of digitization initiatives and simplification of the way it does business.McKay said RBC enters 2020 with strong momentum in all its Canadian retail franchises, driven by multi-year investments in people, products and technology but he noted the macro environment poses challenges."As we look out to 2020, while we still see strength in our core markets, there's no question that it's going to be a challenging macro environment.""Uncertainty is weighing on both global growth and trade and was a key factor on the recent Fed rate cuts."But McKay said RBC's growth strategy positions it to deliver gain market share and return capital to shareholders.RBC chief financial officer Rod Bolger, in answering an analyst's question Wednesday about the potential need for a future large repositioning at Royal, said it has various other ways to manage its costs with less disruption.For example, he said, RBC can raise or lower expenses at its wealth management and capital markets units in response to revenue performance.In addition, he said spending on technology advances can ease following significant growth in that type of expense over the past five years as RBC aimed to capture new opportunities. "Now we have a lot of the pieces in place both from a technology standpoint and a talent standpoint and distribution standpoint to continue to grow revenue despite those macroeconomic uncertainties."The primary macroeconomic uncertainty is where interest rates are headed, Bolger said.His comment came shortly before the Bank of Canada announced that its key short-term interest rate will remain unchanged at 1.75 per cent — in line with analyst expectations.However, for most of Canada's big banks, the bigger question is what the U.S. Federal Reserve will do next after it lowered its benchmark three times this year.The Fed rate cuts, which followed four rate hikes last year, have helped interest-rate sensitive sectors of the U.S. economy such as housing and auto sales.Earlier Wednesday, RBC reported nearly $3.21 billion or $2.18 per diluted share in the quarter ended Oct. 31, down from $3.25 billion or $2.20 per diluted share in the same quarter last year.Its adjusted diluted cash earnings per share amounted to $2.22 for the quarter, which was below the average analyst estimate of $2.28 per share, according to financial markets data firm Refinitiv.Royal Bank's total provisions for credit losses rose to $499 million from $353 million a year earlier, mainly at its banking, wealth management and capital markets units.RBC said its personal and commercial banking unit, which increased net income by five per cent or $80 million to $1.62 billion, benefited from solid housing activity, a growing sales force and favourable interest rate environments.However, the core banking unit also increased its provisions for credit losses and recorded higher provisions for impaired loans by $70 million or 22 per cent compared with last year's fourth quarter to $387 million.— with files from The Associated Press.This report by The Canadian Press was first published Dec. 4, 2019.Companies in this story: (TSX:RY) David Paddon, The Canadian Press

  • British Pound Touches Highest Since May in Vote for Conservatives

    British Pound Touches Highest Since May in Vote for Conservatives

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.The pound touched the highest level against the euro in more than two-and-a-half years as traders stepped up bets for a Conservative victory in next week’s election.It advanced against most major peers as polls showed the ruling Tories holding their lead over Jeremy Corbyn’s left-wing Labour Party. Sterling earlier reached a seven-month high against the dollar as U.S. President Donald Trump’s visit to the U.K. unfolded relatively smoothly, defying speculation his presence could undermine Prime Minister Boris Johnson.Investors see a Conservative majority on Dec. 12 as the most market-positive outcome, as it would allow Johnson to push his Brexit deal through Parliament in time for next month’s deadline and move on to the next phase of talks with the European Union. Trump’s visit had been seen as a risk for the Conservatives, who face questions over how the National Health Service would fare in any future trade deal with the U.S.“With just over a week to go, sterling remains highly influenced by the polls day-to-day, but we may also be seeing some relief that Trump did not toss a grenade into the U.K. political system during his remarks,” said Ned Rumpeltin, European head of currency strategy at Toronto-Dominion Bank. “A break above the October high at $1.3013 may open the door for a test of $1.3185.”Despite confidence in a Conservative win, some traders are protecting themselves against a fall in the pound over the next week on speculation it has rallied too far, too fast. One-week risk reversals on the pound-dollar, a barometer of sentiment and positioning, show investors are the most bearish on sterling since October.The pound gained as much as 0.9% to $1.3109, the highest since May 7. It rallied as much as 0.8% to 84.58 pence per euro, the strongest level since May 2017. The currency has acted as a barometer of political risk throughout the Brexit process and has recovered about 9% against the dollar since hitting an almost three-year low in September, on hopes of an end to the uncertainty.Royal Bank of Canada sees a 60% chance of a Conservative majority next week, leading to the “near certainty” of Brexit at the end of January on the terms of Johnson’s deal. Under a Labour-led coalition, meanwhile, “almost all roads lead to a second referendum, to which we would apply a 60/40 probability of a vote to remain,” Adam Cole, chief currency strategist, said in a note.Pollsters say this election is a tough one with voters prone to switching parties as Brexit disrupts traditional allegiances. Surprise results in the Brexit vote and the last election also mean such surveys are seen as less reliable.For Credit Suisse, a sizable majority for Johnson’s Conservatives is required to continue the currency’s rally. The currency looks vulnerable after the Dec. 12 vote unless the Conservatives win a “solid” majority of 40 seats or more, according to strategists including Shahab Jalinoos.Data from the Bank of England last week showed foreign investors selling U.K. government bonds in October at the fastest pace since February. That month saw the U.K. prime minister secure a last-minute Brexit deal and extension to the deadline, before Parliament voted to back his bid for a December election. Gilts, which have acted as a haven from Brexit risk, slipped to send 10-year yields up four basis points to 0.71%.(Adds context on options in fifth paragraph, updates pricing.)\--With assistance from Vassilis Karamanis.To contact the reporter on this story: Charlotte Ryan in London at cryan147@bloomberg.netTo contact the editors responsible for this story: Dana El Baltaji at delbaltaji@bloomberg.net, William Shaw, Michael HunterFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • RBC Misses Estimates in Tough Times for Investment Banking

    RBC Misses Estimates in Tough Times for Investment Banking

    (Bloomberg) -- Dwindling dealmaking and testy markets caught up with Royal Bank of Canada, leading to the company’s first quarterly profit decline since the start of 2018.The bank’s capital-markets division had its worst quarter in two years for profit and revenue, with lower investment-banking fees and higher provisions causing a 12% earnings drop for the unit. The decline at RBC Capital Markets, which accounts for about a fifth of the bank’s overall profit, undercut gains in consumer banking and pushed fiscal fourth-quarter earnings below analysts’ expectations.“This was a rare miss for Royal,” Barclays Plc analyst John Aiken said in a note to clients. “Capital markets earnings were down on the back of lower advisory fees as well as higher provisions and expenses.”RBC Capital Markets was hurt by a tough year for dealmaking, with a 15% decline industrywide in the value of mergers and acquisitions and a 6% drop in equity financings hurting fee pools. At Royal Bank, investment-banking fees fell 17% to C$428 million ($322 million) in the period, the lowest since the first quarter.“Corporate investment banking was impacted by an industrywide decline in fee pools as some clients stayed on the sidelines given ongoing economic uncertainty,” Royal Bank Chief Executive Officer Dave McKay said on a conference call Wednesday. “Our results were further impacted by delays in the completion of deals in our pipeline.”The company’s shares slumped 2% to C$105.05 at 9:46 a.m. in Toronto. They have risen 12% this year, in line with the gain for Canada’s eight-company S&P/TSX Commercial Banks Index.Trading revenue was C$706 million, the lowest in a year. RBC Capital Markets also set aside C$78 million for provisions, more than double the amount a year earlier and up 39% from the third quarter.Overall, Royal Bank’s net income slipped 1.4% to C$3.21 billion in the three months through Oct. 31, its first decline since the first quarter of 2018. Adjusted per-share earnings were C$2.22, missing the C$2.27 average estimate of 14 analysts in a Bloomberg survey.Royal Bank still ended the year with profit of C$12.9 billion, extending a record streak that stretches back to 2011, though the pace of earnings growth is cooling. This year’s 3.5% earnings increase marked the slowest annual growth for the Canadian bank in a decade.Also in the report:Earnings from Canadian banking, the company’s biggest unit, rose 6.3% to C$1.56 billion in the quarter.Royal Bank is showing continued strength in its domestic mortgage business, which is the largest among Canada’s big lenders. Domestic mortgage balances rose 7.3%, the biggest year-over-year increase since 2016, to a record C$265 billion.Royal Bank’s $5 billion takeover of City National in 2015 has helped lift revenue over the past four years. Profit from wealth management rose 32% to C$729 million, partly due to a C$134 million gain in the quarter from selling the private debt business of BlueBay Asset Management.The investor and treasury services division had a 71% decline in earnings to C$45 million after the bank pursued a “repositioning” of the business that included C$83 million in severance costs in the quarter. Royal Bank has pared roles in Europe and reduced its footprint in Australia as part of what McKay called a “quick pivot” into Asia.McKay announced during Wednesday’s call that Chief Administrative Officer Jennifer Tory is retiring “shortly.” Tory previously served as group head of personal and commercial banking.(Updates with CEO’s comment in fifth paragraph, shares in sixth.)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 TaubFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • CNW Group

    Maryann Turcke to be appointed to the Board of Directors of Royal Bank of Canada

    TORONTO, Dec. 4, 2019 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced that Maryann Turcke will be appointed to its board of directors, effective January 1, 2020. Ms. Turcke is Chief Operating Officer of the National Football League (NFL), overseeing all facets of the operation, including: marketing, technology, social and digital media assets, brand, global events and corporate functions, which encompasses human resources, and public and government affairs. Before joining the NFL in 2017 as President, NFL Network, Ms. Turcke held progressively senior leadership roles over 12 years at Bell Canada Enterprises (BCE), most recently as President, Bell Media.

  • CNW Group

    Royal Bank of Canada declares dividends

    TORONTO , Dec. 4, 2019 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) announced today that its board of directors has declared a quarterly common share dividend of $1.05 per share, payable on and after ...

  • CNW Group

    Royal Bank of Canada Reports Fourth Quarter and 2019 Results

    Royal Bank of Canada Reports Fourth Quarter and 2019 Results

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  • Oil Rises as Prospects for Deeper OPEC Cuts Take Center Stage

    Oil Rises as Prospects for Deeper OPEC Cuts Take Center Stage

    (Bloomberg) -- Oil rose the most in more than a week as traders sifted for fresh signals of whether OPEC and allied crude producers will tighten supplies when they meet later this week.Futures settled 1.4% higher in New York on Monday. Iraq has been hinting that the so-called OPEC+ group may shrink output again, contradicting other cartel members insisting deeper cuts are not in the cards. Money managers boosted bets on a price rally to the highest in six months.“The OPEC comments are unique to oil and keeping the market in the green,” said Robert Yawger, futures director at Mizuho Securities USA LLC in New York.Hedge funds increased their net-bullish position on the U.S. benchmark crude, or the difference between bullish and bearish bets, by 15% to 103,790 contracts, the U.S. Commodity Futures Trading Commission said on Monday.Long-only wagers rose 12%, while shorts dropped 14%. The report was delayed from its usual Friday release because of the Thanksgiving holiday in the U.S.Earlier in Monday’s session, futures surrendered some gains in response to a surprise decline in U.S. construction spending and a fourth straight monthly contraction in American manufacturing activity.For more, listen to this mini-podcast on the Dec. 5-6 OPEC+ eventAdding to the gloomy data was a report that U.S. President Donald Trump was ready to hit China with stiffer tariffs if efforts toward a trade truce between the world’s two largest economies falter. Crude still hasn’t recovered from Friday’s 5.1% slump that was the worst in 2 1/2 months.West Texas Intermediate for January delivery settled up 79 cents to $55.96 a barrel the New York Mercantile Exchange.Brent for February settlement rose 43 cents to $60.92 on London’s ICE Futures Europe Exchange, and traded at a $5.01 premium to WTI for the same month.Also see: OPEC+ Gambles That U.S. Shale’s Golden Age Is OverTo contact the reporters on this story: Sheela Tobben in New York at vtobben@bloomberg.net;Carlos Caminada in Calgary at ccaminada1@bloomberg.netTo contact the editors responsible for this story: David Marino at dmarino4@bloomberg.net, Joe Carroll, Carlos CaminadaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

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  • CNW Group

    RBC Launches Tech for Nature

    TORONTO , Nov. 26, 2019 /CNW/ - RBC today announced the launch of RBC Tech for Nature – a multi-year commitment by the RBC Foundation to new ideas, technologies and partnerships focused on protecting our shared future. Data and technology have the power to transform and improve the world we live in. Using a more than money approach, RBC will bring together charitable partners, technology experts, the public and private sector, as well as our own unique capabilities to build the type of multi-partner coalitions needed to address and work toward solving our shared environmental challenges.