Bullboard - Stock Discussion Forum Royal Bank of Canada T.RY.PR.H

Primary Symbol: T.RY Alternate Symbol(s): T.RY.PR.N | T.RY.PR.O | T.RY.PR.S | RYLBF | RBMCF | RBCPF | RY | T.RY.PR.J | T.RY.PR.M

Royal Bank of Canada is a global financial institution. Its business includes Personal & Commercial Banking, Wealth Management, Investor Services, Capital Markets and Insurance. The Personal & Commercial Banking comprises its personal banking operations and certain retail investment businesses in Canada, the Caribbean and United States, as well as its commercial and corporate banking operations... see more

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TSX:RY - Post Discussion

Royal Bank of Canada > BMO

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Post by Dibah420 on May 31, 2024 4:23pm

BMO

BMO Raises Royal Bank Target to $151, Maintains Outperform

MT Newswires - May 31, 2024 2:19 PM EDT

02:19 PM EDT, 05/31/2024 (MT Newswires) -- Royal Bank's adjusted diluted EPS of $2.92 beat BMO/consensus estimates of $2.63/ $2.76. All segments beat, with record Capital Markets (Corporate & Investment banking) results and strong Wealth earnings, notes BMO's Sohrab Movahedi. Canadian P&C (stronger operating leverage) and Insurance (IFRS 17) also came in higher than expected.

PCLs were higher than expected, CET1 strong at 12.8%. Royal Bank hiked dividend by ~3% to $1.42. and announced NCIB to purchase 30 million shares.

BMO has raised target price up slightly to $151 on higher FY2025E EPS. Maintain Outperform rating.

Price: 147.33, Change: -0.94, Percent Change: -0.63

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