Royal Bank of Canada operates as a diversified financial service company worldwide. The company's Personal & Commercial Banking segment offers checking and savings accounts, home equity financing, personal lending, private banking, indirect lending, mutual funds and self-directed brokerage accounts, guaranteed investment certificates, credit cards, and payment products and solutions; and lending, leasing, deposit, investment, foreign exchange, cash management, auto dealer financing, trade products, and services to small and medium-sized commercial businesses. This segment offers financial products and services through branches, automated teller machines, and mobile sales network. Its Wealth Management segment provides a suite of advice-based solutions and strategies to high net worth and ultra-high net worth individuals, and institutional clients. The company's Insurance segment offers life, health, home, auto, travel, wealth, annuities, and reinsurance advice and solutions; and creditor and business insurance services to individual, business, and group clients through its field sales force, advice centers, and online, as well as through independent insurance advisors and affinity relationships. Its Investor & Treasury Services segment provides asset, cash management, transaction banking, and treasury services to institutional clients; correspondent banking and trade finance services for financial institutions; and short-term funding and liquidity management services. The company's Capital Markets segment offers corporate and investment banking, as well as equity and debt origination, distribution, sale, and trading services for corporations, institutional investors, asset managers, governments, and central banks. Royal Bank of Canada has a strategic partnership with Royal College Of Physicians & Surgeons Of Canada to support the needs of Canada's medical specialists. The company was founded in 1864 and is headquartered in Toronto, Canada.
IPO Year:
Exchange: NYSE
Website: rbc.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 7/2/2024 | Buy | UBS | |
| 5/13/2024 | Hold → Buy | Jefferies | |
| 4/5/2024 | Market Perform → Outperform | BMO Capital Markets | |
| 3/20/2024 | Equal Weight | Barclays | |
| 2/22/2024 | Hold | Jefferies | |
| 12/18/2023 | Buy | Canaccord Genuity | |
| 12/18/2023 | Neutral → Buy | BofA Securities | |
| 5/16/2023 | $4.00 | Sector Outperform → Neutral | CIBC |
| 5/9/2023 | Overweight → Underweight | Barclays | |
| 12/12/2022 | Underperform → Neutral | BofA Securities |
TORONTO, Oct. 1, 2024 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced that it intends to split units of RBC Quant U.S. Dividend Leaders ETF (TSX:RUD), and RBC Quant U.S. Dividend Leaders (CAD Hedged) ETF (TSX:RUDH) (each, an "RBC ETF"), both of which are listed on the Toronto Stock Exchange ("TSX"). Each unit split will be payable on October 15, 2024 (the "Payment Date"), to unitholders of record of the applicable RBC ETF on October 11, 2024 (the "Record Date"). The units of each RBC ETF will trade on a "due bill" basis, as described below, from the o
TORONTO, Aug. 28, 2024 /CNW/ - Royal Bank of Canada (TSX:RY) (NYSE:RY) announced today that its board of directors has declared a quarterly common share dividend of $1.42 per share, payable on and after November 22, 2024, to common shareholders of record at the close of business on October 24, 2024. The board also declared dividends for the following Non-Cumulative First Preferred Shares, payable on and after November 22, 2024, to shareholders of record at the close of business on October 24, 2024. Series BD Dividend No. 39 of $0.20 per share.Series BF Dividend No. 38 of $0.18
All amounts are in Canadian dollars and are based on financial statements presented in compliance with International Accounting Standard 34 Interim Financial Reporting, unless otherwise noted. Effective November 1, 2023, we adopted IFRS 17 Insurance Contracts (IFRS 17). Comparative amounts have been restated from those previously presented. Our Q3 2024 Report to Shareholders and Supplementary Financial Information are available at http://www.rbc.com/investorrelations and on https://www.sedarplus.com/. Net income$4.5 BillionUp 16% YoY Diluted EPS1$3.09Up 13% YoY Total PCL2$659 MillionPCL on loans ratio3down 14 bps4 QoQ ROE515.5%Up 60 bps YoY CET1 ratio613.0%Above regulatory requirements Adj
TORONTO, Aug. 23, 2024 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced that the following mutual funds will re-open to new investors on September 3, 2024: RBC Global Equity FundRBC Global Equity Focus FundRBC Vision Global Equity FundRBC Global Equity Focus Currency Neutral FundRBC Global Dividend Growth FundRBC Global Dividend Growth Currency Neutral FundPhillips, Hager & North Global Equity FundPhillips, Hager & North Overseas Equity Fund (only Series A, D, F and O)Phillips, Hager & North Currency-Hedged Overseas Equity Fund (collectively,
TORONTO, Aug. 19, 2024 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced August 2024 cash distributions for unitholders of RBC ETFs, as follows: FUND NAME FUND TICKER CASH DISTRIBUTION PER UNIT RBC 1-5 Year Laddered Canadian Bond ETF RLB $0.050 RBC 1-5 Year Laddered Canadian Corporate Bond ETF RBO $0.055 RBC Target 2024 Canadian Government Bond ETF RGQL $0.235 RBC Target 2025 Canadian Government Bond ETF RGQN $0.035 RBC Target 2026 Canadian Government Bond ETF RGQO $0.030 RBC Target 2027 Canadian Government Bond ETF RGQP $0.035 RBC Target 2028 Canadia
TORONTO, Aug. 1, 2024 /CNW/ - Royal Bank of Canada (TSX:RY) (NYSE:RY) will release its third quarter results for 2024 on August 28, which will be made available at rbc.com/investorrelations. Financial results are expected to be released at approximately 6:00 a.m. Eastern Standard Time (EST). The conference call is scheduled for 8:00 a.m. (EST) and will feature a presentation by RBC executives followed by a question and answer period with analysts. An audiocast of the call is available on a listen-only basis at: rbc.com/investorrelations/quarterly-financial-statements.html or b
TORONTO, July 17, 2024 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced July 2024 cash distributions for unitholders of RBC ETFs, as follows: FUND NAME FUND TICKER CASH DISTRIBUTION PER UNIT RBC 1-5 Year Laddered Canadian Bond ETF RLB $0.050 RBC 1-5 Year Laddered Canadian Corporate Bond ETF RBO $0.050 RBC Target 2024 Canadian Government Bond ETF RGQL $0.030 RBC Target 2025 Canadian Government Bond ETF RGQN $0.035 RBC Target 2026 Canadian Government Bond ETF RGQO $0.025 RBC Target 2027 Canadian Government Bond ETF RGQP $0.035 RBC Target 2028 Canadian Go
A roundup of the most newsworthy press releases from Cision Distribution this week TORONTO, July 12, 2024 /CNW/ - With thousands of press releases published each week, it can be difficult to keep up with everything on Cision. To help journalists and consumers stay on top of the week's most newsworthy and popular releases, here's a recap of some major stories from the week that shouldn't be missed. The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that
TORONTO, June 28, 2024 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced June 2024 cash distributions for unitholders of ETF Series of RBC Funds, as follows: FUND NAME FUND TICKER CASH DISTRIBUTION PER UNIT RBC Canadian Equity Income Fund - ETF Series RCEI $0.062 RBC Emerging Markets Dividend Fund - ETF Series REMD $0.213 RBC Conservative Bond Pool – ETF Series RCNS $0.169 RBC Core Bond Pool – ETF Series RCOR $0.184 RBC Core Plus Bond Pool – ETF Series RPLS $0.196 Unitholders of record on July 8, 2024, will receive distributions payable on Jul
TORONTO, June 27, 2024 /CNW/ - RBC Indigo Asset Management Inc. ("RBC Indigo Inc.") today announced changes to several of its funds, including the renaming of D Series and DT Series units, a management fee reduction for certain funds and the introduction of F Series units for RBC Indigo Pooled Funds and certain RBC Indigo Mutual Funds. Renaming of D Series and DT Series units of RBC Indigo Funds Effective June 27, 2024, D Series and DT Series units of RBC Indigo Funds will be renamed to F Series and FT Series units, respectively. F Series and FT Series units will be available
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TORONTO, Oct. 1, 2024 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced that it intends to split units of RBC Quant U.S. Dividend Leaders ETF (TSX:RUD), and RBC Quant U.S. Dividend Leaders (CAD Hedged) ETF (TSX:RUDH) (each, an "RBC ETF"), both of which are listed on the Toronto Stock Exchange ("TSX"). Each unit split will be payable on October 15, 2024 (the "Payment Date"), to unitholders of record of the applicable RBC ETF on October 11, 2024 (the "Record Date"). The units of each RBC ETF will trade on a "due bill" basis, as described below, from the o
51% of Canadians are aspiring entrepreneurs – up five percentage points over 2023More Canadian small business owners and aspiring entrepreneurs cite meaningful work (93%) over making more money (87%) as a motivation for owning their own business.TORONTO, Sept. 18, 2024 /CNW/ - The annual RBC Small Business Poll reveals that the proportion of Canadians considering starting their own business rose to 51% this year, marking a five percentage point increase from 2023 – and an encouraging rebound following a previous two-year decline. "Historically, we've observed strong interest a
A new survey commissioned by Mydoh found that 85 per cent of Quebec parents feel some aspects of financial literacy are a challenge to teach their children MONTREAL, Sept. 12, 2024 /CNW/ - Quebec parents agree that it's essential to broach the subject of money management at an early age, but many struggle with teaching certain aspects of financial planning to their children, according to a new survey from Mydoh, the money management app for kids and teens powered by RBC. With the Mydoh app, which provides parental oversight, Quebec families are better equipped to build healthy
TORONTO, Sept. 12, 2024 /CNW/ - Royal Bank of Canada (TSX:RY) (NYSE:RY) today announced that Katherine Gibson has been appointed Chief Financial Officer, effective immediately. Ms. Gibson has served as Interim Chief Financial Officer since April 5, 2024. Prior to this, she was Senior Vice President, Enterprise Finance & Controller with global responsibility for head office Finance, including all external, board and management reporting, accounting policy and financial management systems. "Katherine is an outstanding senior executive with global financial insights and leadershi
75% say they have strong financial habits, yet 73% admit to actions over the last year that could be hurting their financial wellbeing TORONTO, Sept. 10, 2024 /CNW/ - There is a paradox in Canadians' financial behaviour, according to RBC's new Financial Habits Poll. While a significant 75% of respondents believe they possess good financial habits, with 62% rating their habits as above average compared to their friends and family, the data uncovers a different reality. Over the past year, more than a third of respondents confessed to not setting financial goals (38%), not dedic
TORONTO, Sept. 4, 2024 /CNW/ - RBC Royal Bank is decreasing its prime rate by 25 basis points from 6.70 per cent to 6.45 per cent, effective September 5, 2024. About RBC Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 100,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank and one of the largest in the world, based on market
TORONTO, Sept. 3, 2024 /CNW/ - Katherine Gibson, Interim Chief Financial Officer of Royal Bank of Canada (TSX:RY) (NYSE:RY), is scheduled to speak at the Barclays Global Financial Services Conference in New York on September 11, 2024 at 11:15 a.m. (EST). A link to the live audio broadcast will be available on RBC's website at http://www.rbc.com/investorrelations/events-presentations.html on September 11, 2024. The webcast will be archived for three months. About RBCRoyal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to deliveri
TORONTO, Aug. 28, 2024 /CNW/ - Royal Bank of Canada (TSX:RY) (NYSE:RY) announced today that its board of directors has declared a quarterly common share dividend of $1.42 per share, payable on and after November 22, 2024, to common shareholders of record at the close of business on October 24, 2024. The board also declared dividends for the following Non-Cumulative First Preferred Shares, payable on and after November 22, 2024, to shareholders of record at the close of business on October 24, 2024. Series BD Dividend No. 39 of $0.20 per share.Series BF Dividend No. 38 of $0.18
All amounts are in Canadian dollars and are based on financial statements presented in compliance with International Accounting Standard 34 Interim Financial Reporting, unless otherwise noted. Effective November 1, 2023, we adopted IFRS 17 Insurance Contracts (IFRS 17). Comparative amounts have been restated from those previously presented. Our Q3 2024 Report to Shareholders and Supplementary Financial Information are available at http://www.rbc.com/investorrelations and on https://www.sedarplus.com/. Net income$4.5 BillionUp 16% YoY Diluted EPS1$3.09Up 13% YoY Total PCL2$659 MillionPCL on loans ratio3down 14 bps4 QoQ ROE515.5%Up 60 bps YoY CET1 ratio613.0%Above regulatory requirements Adj
TORONTO, Aug. 26, 2024 /CNW/ - Dave McKay, president and chief executive officer, Royal Bank of Canada (TSX:RY) (NYSE:RY), is scheduled to speak on a live webcast at the Scotiabank Annual Financials Summit on September 4, 2024. The webcast will begin at 9:35 a.m. (EST). A link to the live video webcast will be available on RBC's website at http://www.rbc.com/investorrelations/events-presentations.html on September 4, 2024. The webcast will be archived for three months. About RBCRoyal Bank of Canada is a global financial institution with a purpose-driven, principles-led approac
UBS initiated coverage of Royal Bank of Canada with a rating of Buy
Jefferies upgraded Royal Bank of Canada from Hold to Buy
BMO Capital Markets upgraded Royal Bank of Canada from Market Perform to Outperform
Barclays initiated coverage of Royal Bank of Canada with a rating of Equal Weight
Jefferies initiated coverage of Royal Bank of Canada with a rating of Hold
Canaccord Genuity resumed coverage of Royal Bank of Canada with a rating of Buy
BofA Securities upgraded Royal Bank of Canada from Neutral to Buy
CIBC downgraded Royal Bank of Canada from Sector Outperform to Neutral and set a new price target of $4.00
Barclays downgraded Royal Bank of Canada from Overweight to Underweight
BofA Securities upgraded Royal Bank of Canada from Underperform to Neutral
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Visa Inc (NYSE:V) shares are trading lower today. Visa has partnered with Amazon.Com, Inc. (NASDAQ:AMZN) to offer Canadian consumers more flexible payment options at checkout. Eligible Royal Bank Of Canada (NYSE:RY) and The Bank of Nova Scotia (NYSE:BNS) credit cardholders can now select Installments enabled by Visa for qualifying purchases on Amazon.ca or the Amazon app. This new option allows consumers to convert purchases into smaller, fixed payments over a set period. “We are excited to offer our installments solution on Amazon through two of Canada’s leading issuers, granting more consumers access to diversified payment methods and greater financial control with one of the worl
Argus Research analyst Stephen Biggar maintains Royal Bank of Canada (NYSE:RY) with a Buy and raises the price target from $115 to $120.
The company declared an increase to its quarterly common share dividend of four cents, or three per cent, to C$1.42 per share, payable on and after August 23, 2024, to common shareholders of record at the close of business on July 25, 2024.
Royal Bank of Canada (NYSE:RY) reported quarterly Adj earnings of $2.17 per share which beat the analyst consensus estimate of $2.02 by 7.23 percent. This is a 10.51 percent increase over earnings of $1.96 per share from the same period last year. The company reported quarterly sales of $10.50 billion which beat the analyst consensus estimate of $9.90 billion by 6.07 percent. This is a 5.17 percent increase over sales of $9.98 billion the same period last year.
RBC appoints KatherineGibson InterimChiefFinancialOfficer following the departure of NadineAhnTORONTO, April 5, 2024 /CNW/ - Royal Bank of Canada (TSX:RY) and (NYSE:RY) today announced the appointment of KatherineGibson as Interim Chief Financial Officer (CFO). She succeeds NadineAhn whose employment was terminated by RBC earlier today, effective immediately.RBC was recently made aware of allegations involving Ms. Ahn and immediately launched an internal review and engaged outside legal counsel to investigate. The investigation found evidence that, in contravention of the RBC Code of Conduct, Ms. Ahn was in an undisclosed close personal relationship with another employee which led to prefere
BMO Capital analyst Sohrab Movahedi upgrades Royal Bank of Canada (NYSE:RY) from Market Perform to Outperform and raises the price target from $140 to $150.
TORONTO, Sept. 12, 2024 /CNW/ - Royal Bank of Canada (TSX:RY) (NYSE:RY) today announced that Katherine Gibson has been appointed Chief Financial Officer, effective immediately. Ms. Gibson has served as Interim Chief Financial Officer since April 5, 2024. Prior to this, she was Senior Vice President, Enterprise Finance & Controller with global responsibility for head office Finance, including all external, board and management reporting, accounting policy and financial management systems. "Katherine is an outstanding senior executive with global financial insights and leadershi
RBC's latest contest, Red, will include WestJet flights or credit and accommodations for ticket winners across Canada TORONTO, May 23, 2024 /CNW/ - RBC is partnering with WestJet for upcoming select contests and giveaways that will provide flights or credit towards a future WestJet flight for lucky Avion Rewards members who win tickets to see Taylor Swift | The Eras Tour in Canada. RBC's latest contest, Red, is now open and giving away the chance to win 1 of 50 pairs of concert tickets. Additionally, contest winners across Canada will receive accommodations provided by RBC, plus flights to the Toronto or Vancouver shows, or credit towards a future flight courtesy of WestJet. Avion Rewards me
RBC appoints Katherine Gibson Interim Chief Financial Officer following the departure of Nadine Ahn TORONTO, April 5, 2024 /CNW/ - Royal Bank of Canada (TSX:RY) and (NYSE:RY) today announced the appointment of Katherine Gibson as Interim Chief Financial Officer (CFO). She succeeds Nadine Ahn whose employment was terminated by RBC earlier today, effective immediately. RBC was recently made aware of allegations involving Ms. Ahn and immediately launched an internal review and engaged outside legal counsel to investigate. The investigation found evidence that, in contravention of
All members can now earn and redeem Avion points, get cash back,access exclusive experiences and more TORONTO, March 11, 2024 /CNW/ - Avion Rewards, Canada's largest proprietary loyalty program, has launched expanded benefits for its newest membership level, Avion Select, free for all Canadians to join regardless of where they bank. Avion Select members can experience a wide breadth of program features, including up to 40% cash back deals, offers from over 2,400 retailers and brands, the ability to earn Avion points and redeem for virtually anything and much more. "Accessing v
TORONTO, March 7, 2024 /CNW/ - Royal Bank of Canada (TSX:RY) (NYSE:RY) today announced it has filed its notice of annual meeting of common shareholders and management proxy circular for 2024 with securities regulators. The circular contains information about RBC's annual meeting, which is scheduled to occur on April 11, 2024, including the election of directors and the appointment of the bank's auditor. It also contains a detailed description of the board's assessment of the performance of RBC named executive officers for fiscal 2023 and related compensation decisions. RBC is
Yabuki's Motive Partners role expands to include Chairman & CEO of InvestCloud, which sets the stage for the Company's next phase of growth InvestCloud (or "the Company"), a global provider of wealth and asset management solutions, today announced the appointment of Jeffery W. Yabuki ("Jeff") as Chairman and CEO. In this role, Jeff will lead InvestCloud's strategy and operations, with a key focus on excellence of client delivery. Jeff's leadership will further empower InvestCloud's clients and partners with its scalable technology platform. The Company is backed by Clearlake Capital Group, L.P. (together with certain of its affiliates, "Clearlake") and Motive Capital Management, LLC (toge
TORONTO, Sept. 14, 2023 /PRNewswire/ - RBC today announced the appointment of Greg Carmichael as executive chair of the board of directors of City National Bank, effective October 2, 2023. Mr. Carmichael will provide dedicated strategic oversight and board governance to City National as it strengthens its platform for the future as a leading U.S. private and commercial bank. "We're pleased to have an executive of Greg's calibre join City National, and are confident his strong track record of strategic, operational and technological success will help strengthen our foundation f
TORONTO, March 2, 2023 /CNW/ - Royal Bank of Canada (TSX:RY) (NYSE:RY) today announced it has filed its notice of annual and special meeting of common shareholders, notice of special meeting of first preferred shareholders and management proxy circular for 2023 with securities regulators. The circular contains information about RBC's shareholder meetings, which are scheduled to occur on April 5, 2023, including (i) the election of directors, (ii) the appointment of the bank's auditor, (iii) the approval of an amendment to the stock option plan to extend the exercise period of
Kathleen Taylor to retire as Chair at RBC's 2023 meeting of shareholders TORONTO, Dec. 1, 2022 /CNW/ - Royal Bank of Canada (TSX: RY) (NYSE:RY) today announced that Jacynthe Côté will be appointed as Chair of the Board, effective upon her re-election as an independent director at RBC's meeting of shareholders on April 5, 2023. Ms. Côté will succeed Kathleen (Katie) Taylor, who has served as Board Chair since 2014. Ms. Taylor will retire from the Board following Ms. Côté's appointment as part of an orderly succession. "Under Jacynthe's leadership, I am confident the board will
TORONTO, March 3, 2022 /CNW/ - Royal Bank of Canada (TSX:RY) (NYSE:RY) today announced it has filed its notice of annual meeting of common shareholders and management proxy circular for 2022 with securities regulators. The circular contains information about RBC's annual meeting, which is scheduled to occur on April 7, 2022, including the election of directors and the appointment of the bank's auditor. It also contains a detailed description of the board's assessment of the performance of RBC named executive officers for fiscal 2021 and related compensation decisions. How we