Royal Bank of CanadaNYSE
Royal Bank Of Canada: 35% Upside, 4.5% Yield, And $1 Trillion In Assets
Williams Equity Research • 39 Comments
Williams Equity Research • 39 Comments
Wed, Nov. 30, 6:44 AM
Wed, Nov. 30, 6:39 AM
Tue, Nov. 29, 5:30 PM
Thu, Nov. 17, 12:18 PM
- In no surprise, the list is dominated by the ripping financial sector:
- Allstate (ALL +1.4%)
- Ameriprise (AMP +0.2%)
- TD Ameritrade (AMTD +1.6%)
- BB&T (BBT +2.1%)
- Citigroup (C +2.4%)
- Citizens Financial (CFG +2%)
- Comerica (CMA +1.5%)
- CNA Financial (CNA +0.6%)
- Loews Corp. (L +0.9%)
- Marsh & McLennan (MMC +1.9%)
- PNC Financial (PNC +2.6%)
- Royal Bank of Canada (RY +0.7%)
- U.S. Bancorp (USB +1.9%)
- Aetna (AET +1.5%)
- Best Buy (BBY +10.4%)
- CBS (CBS +0.6%)
- Celanese (CE +0.1%)
- Comcast (CMCSA +1.5%)
- Dell Technologies (DVMT +1.1%)
- The Gap (GPS +0.4%)
- Humana (HUM +1.4%)
- KLA-Tencor (KLAC +2.7%)
- Liberty Media (LMCA +1.6%)
- Lam Research (LRCX +1.9%)
- Micron (MU +5.3%)
- Nvidia (NVDA +2.7%)
- Rockwell (ROK -0.5%)
- Teck Resources (TCK +0.5%)
- Texas Instruments (TXN +1.1%)
- New lows:
- Novo Nordisk (NVO +0.3%)
Fri, Oct. 21, 9:17 AM| Fri, Oct. 21, 9:17 AM
Tue, Oct. 11, 11:39 AM
- A risk sharing proposal would likely have lenders paying some sort of a deductible when a mortgage goes bad - similar to what car drivers do in a car crash.
- The banks say mortgage defaults are so rare - 5 times lower than the U.S. by one measure - that making lenders share the risk is unnecessary and not worth the costs. “If it’s supposed to be something to improve the quality of underwriting," says the Canadian Bankers Association's Darren Hannah, "Well the quality of underwriting is already very strong.”
- The group - which includes TD, BMO, CM, RY, and BNS - holds its regular meetings with the country's finance department this week, and plans to let its feelings be known.
- Also of interest to Genworth (NYSE:GNW), whose Canadian mortgage insurance unit is the country's second-largest.
Wed, Aug. 24, 8:21 AM
Wed, Aug. 24, 8:11 AM
Wed, Aug. 24, 7:40 AM
- FQ3 net income of $2.7B or $1.72 per share was up $0.06 per share from a year ago, and topped expectations by two cents. The quarterly dividend is lifted by two cents to $0.83 per share.
- Provisions for credit losses as a percent of total loans fell twelve basis points during quarter to 0.24%.
- In other divisions, wealth management net income rose 36% Y/Y to $388M, in part thanks to $5B purchase of L.A.-based "bank to the stars," City National.
- Capital markets net income of $635M rose 17%.
- RY flat premarket
Tue, Aug. 23, 5:30 PM
Thu, Jul. 7, 1:26 PM
- It's a strategy that may not pay off in better stock price performance, warns Canaccord.
- Recent buys include CIBC's (CM -0.5%) just-announced $3.8B deal for Private Bancorp, and RBC's (RY -0.4%) $5.5B acquisition of City National last year.
- The lenders could be forgiven for focusing on EPS as stock prices have tracked that measure far more closely than ROE. But, says Canaccord, research shows sacrificing ROE in order to juice EPS hasn't guaranteed superior share performance. Top performers, they say, deliver both better EPS growth and better ROE.
Wed, Jul. 6, 1:26 PM
- Moneris U.S. is a division of Canadian payments processing giant Moneris Solutions, owned by Royal Bank of Canada (NYSE:RY) and Bank of Montreal (NYSE:BMO). The price could be somewhere near $600M.
- Along with Vantiv (NYSE:VNTV), First Data Corp. (NYSE:FDC) has also shown interest, as have private equity shops like Warburg Pincus, Bain Capital, and SIlver Lake.
- The P-E firms have also expressed interest in buying Moneris Solutions for as much as $6B, though that's not currently on the block.
- Second round offers are due in about a week, according to the report.
- A relatively small player in the U.S., Moneris U.S. generates about $45M in EBITDA.
Thu, May 26, 8:26 AM
- FQ2 net income excluding items of $2.573B or $1.66 pr share vs. $2.394B and $1.61 a year ago. ROE of 16.2% down 230 basis points.
- Personal & Commercial Banking net income of $1.297B up 8% Y/Y.
- Wealth Management net income of $386M up 42%, thanks to the CIty National purchase.
- Investor & Treasury Services net income of $139M down 13%.
- Capital Markets net income of $583M down 7%, driven by lower client activity.
- Gross impaired loans of $3.703B up 19% from last quarter thanks to energy loans. Provisions increased by a far smaller amount thanks to the seniority of the loans and the collateral received.
- Previously: Royal Bank of Canada beats by C$0.02, beats on revenue (May 26)
- RY flat premarket
Thu, May 26, 7:59 AM
- Royal Bank of Canada (NYSE:RY) declares C$0.81/share quarterly dividend, in line with previous.
- Forward yield 4.11%
- Payable Aug. 24; for shareholders of record July 26; ex-div July 22.
- The company plans to repurchase 20M common stock (1.3% of outstanding shares), subject to approval of office of the Superintendent of financial institutions and the Toronto stock exchange.
- Press Release
Thu, May 26, 7:07 AM
- Royal Bank of Canada (NYSE:RY): FQ2 EPS of C$1.66 beats by C$0.02.
- Revenue of C$9.53B (+7.9% Y/Y) beats by C$420M.
Mon, May 23, 3:10 PM
- The ruling from the Court of Appeals for the Second Circuit reinstates previously thrown out private antirust lawsuits against 16 banks for allegedly rigging Libor.
- There are a number of groups of plaintiffs, including Baltimore, Houston, and San Diego.
- For now, the case goes back to lower court for further proceedings. If the suits are successful, the bill to banks could be several billion dollars.
- Roughly a dozen financial companies have already settled official charges of rate manipulation, with some pleading guilty to criminal charges.
- The defendants in line from today's ruling include: Bank of America (NYSE:BAC), Barclays (NYSE:BCS), Credit Suisse (NYSE:CS), Deutsche Bank (NYSE:DB), HSBC, JPMorgan (NYSE:JPM), Lloyds (NYSE:LYG), Royal Bank of Canada (NYSE:RY), SocGen (OTCPK:SCGLY), UBS, and Royal Bank of Scotland (NYSE:RBS).