Bank of America Reinstates Royal Bank of Canada to Underperform

Brokerage firm Bank of America Reinstates its rating on Royal Bank of Canada(NYSE:RY). The shares have been rated Underperform. The rating by Bank of America was issued on Jul 12, 2016.

Royal Bank of Canada (RY) made into the market gainers list on Fridays trading session with the shares advancing 0.02% or 0.01 points. Due to strong positive momentum, the stock ended at $61.92, which is also near the day’s high of $62.1. The stock began the session at $62 and the volume stood at 7,82,033 shares. The 52-week high of the shares is $63.43 and the 52 week low is $44.37. The company has a current market capitalization of $92,151 M and it has 1,48,82,19,000 shares in outstanding.

Royal Bank of Canada(RY) last announced its earnings results on May 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $7.35B. Analysts had an estimated revenue of $9.07B. Earnings per share were $1.28. Analysts had estimated an EPS of $1.64.

Royal Bank of Canada (RBC) is a diversified financial services company. The Company provides personal and commercial banking wealth management services insurance investor services and capital markets products and services on a global basis. It operates in five segments: Personal & Commercial Banking which operates comprises its personal and business banking operations as well as its auto financing and retail investment businesses; Wealth Management which comprises Canadian Wealth Management United States and International Wealth Management and Global Asset Management (GAM); Insurance which operates under two business lines: Canadian Insurance and International Insurance; Investor & Treasury Services which is a provider of asset servicing custody payments and treasury services and Capital Markets which comprises two business lines: Corporate and Investment Banking and Global Markets. It operates in three geographic segments: Canada United States and Other International.

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