Royal Bank of Canada Reduces Medium-Term ROE Guidance; We Are Maintaining Our Fair Value Estimate
Wide-moat rated Royal Bank of Canada’s fiscal fourth-quarter results were largely in line with our expectations and do not alter our long-term thesis on the firm. We are maintaining our $66 fair value estimate and updating our fair value estimate for Canadian shares to CAD 88, solely due to updated exchange rates.Royal Bank of Canada reported an increase in revenue of 3.1% year over year, excluding the impact of City National Bank, and an increase of 8.7% including City National Bank. The addit...
Royal Bank of Canada is a financial services company that provides personal and commercial banking, wealth management services, insurance, investor services and capital markets products and services. Co. serves personal, business, public sector and institutional clients through offices in Canada, the U.S. and 37 other countries. Co. is organized into five segments: Personal and Commercial Banking, which is comprised of Co.'s personal and business banking operations, and its auto financing businesses; Wealth Management, Insurance; Investor and Treasury Services; and Capital Markets. As of Oct 31 2017, Co. had total assets of C$1.21 trillion and total deposits of C$789.64 billion.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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