Royal Bank Of Canada (RY) Gets a Buy Rating from Credit Suisse


In a report released today, Mike Rizvanovic from Credit Suisse maintained a Buy rating on Royal Bank Of Canada (RY), with a price target of C$101.00. The company’s shares closed last Thursday at $66.69.

According to TipRanks.com, Rizvanovic is a 3-star analyst with an average return of 3.0% and a 60.0% success rate. Rizvanovic covers the Financial sector, focusing on stocks such as National Bank of Canada, Bank Of Nova Scotia, and Manulife Financial.

Royal Bank Of Canada has an analyst consensus of Moderate Buy, with a price target consensus of $75.03, representing an 11.6% upside. In a report issued on May 22, Scotiabank also maintained a Buy rating on the stock with a C$97.00 price target.

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Based on Royal Bank Of Canada’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $12.81 billion and net profit of $3.5 billion. In comparison, last year the company earned revenue of $11.57 billion and had a net profit of $3.17 billion.

Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RY in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Royal Bank of Canada engages in the provision of banking and financial solutions. It operates through the following segments: Personal and Commercial Banking, Wealth Management, Insurance, Investor and Treasury Services, Capital Markets, and Corporate Support. The Personal and Commercial Banking segment deals with a broad suite of financial products and services in Canada. The Wealth Management segment offers a comprehensive suite of investment, trust, banking, credit, and other wealth management solutions to institutional and individual clients through its distribution channels and third-party distributors. The Insurance segment refers to a range of life, health, home, auto, travel, wealth, group, and reinsurance products. The Investor and Treasury Services segment comprises of asset services and a provider of cash management, transaction banking, and treasury services to institutional clients worldwide. The Capital Markets segment covers banking, finance and capital markets to corporations, institutional investors, asset managers, governments, and central banks around the world. The Corporate Support segment consists of technology and operations services. The company was founded by J. W. Merkell, Edward Kenny, T. C. Kinnear, James B. Duffus, William Cunard, John Tobin, George P. Mitchell and Jeremiah Northup in 1864 and is headquartered in Toronto, Canada.

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