RE:RY - #1 Top Pick on BNN Market Call - Michael SprungHe also owns the stock personally. GLTA
Royal Bank of Canada (RY - TSX) Last Purchase: October 27, 2022 $125.00
The Royal Bank is Canada's largest bank by market capitalization with dominant domestic banking, insurance, wealth operations and global capital markets businesses. It is a G-SIB universal bank with a scale that is advantageous in mass-market banking. Management is intent on maintaining its lead and improving market share by investing heavily in technology and its distribution network. Investment is also being directed toward retail growth in the United States. As these investments payoff, the bank should benefit from positive operating leverage leading to greater profitability and future dividend increases. The bank has paid a dividend every year since 1870. At current levels, the stock yields 4.1 per cent.
TOP PICK
Royal Bank(RY-T)
01/11/2022 at 08:00pm
Banks will be somewhat sensitive to higher rates, but RY has a very diversified earnings base. Management's investing heavily in maintaining lead market share. Though not the best yield in the bunch, dividend very safe, and he expects increases. Safety in this market. Yield is 4.04%. (Analysts’ price target is $139.19)
Banks
Michael Sprung
$126.310
Owned