Royal Bank of Canada (RY)
Combines Canadian personal and commercial banking with global wealth, insurance and capital-markets franchises.
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Serves households and businesses through Personal Banking and Commercial Banking, alongside Wealth Management, Insurance and Capital Markets. Canadian lending anchors the balance sheet, while advice, asset management, investor services, private banking and institutional markets extend the franchise across the United States and global financial centres.
Runs Personal Banking and Commercial Banking as separate Canadian-focused franchises, with Wealth Management, Insurance and Capital Markets completing the five-segment structure. Products span deposits, lending, payments, advice, asset management, insurance, investment banking and trading.
Uses the RBC master brand to connect client relationships across businesses. The United States platform combines RBC Capital Markets, U.S. Wealth Management and City National's private and commercial bank, while other wealth and institutional operations reach selected global financial centres.
Depends on Canadian credit and housing conditions, deposit funding and regulated capital. Wealth fees move with client assets and flows; insurance depends on claims and actuarial assumptions; capital markets depend on issuance, advisory and trading activity. HSBC Bank Canada integration adds continuing technology, data, credit and compliance execution requirements.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jun 11, 2026 | Argus Research | Target | Target: $120 | Target: $225 |
| May 12, 2026 | Raymond James | Downgrade | ||
| Dec 4, 2025 | TD Securities | Upgrade | ||
| Nov 25, 2025 | Jefferies | Downgrade | ||
| Sep 22, 2025 | Erste Group | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jul 31, 2026Cash & short-term investments $45.65B · Total debt $297.35B · Total assets $1.78T · Shareholders' equity $103.22B
- Revenue
- $27.49B
- Operating income
- $5.52B
- Net income
- $4.29B
Reported in CAD, converted at the latest exchange rate
HistoryDividendAnnual yieldUpcoming
| Institutions | 44.63% | 620.21M shares | |
|---|---|---|---|
| 1,035 holders · as of Jun 30, 2026 | |||
| Other | 55.37% | 769.57M shares | |
| remainder | |||
1.39B company shares as of Sep 18, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Royal Bank of CanadaInstitution | 5.05% | 70.22M | as of Jun 30, 2026 |
Bank of Montreal /Can/Institution | 4.36% | 60.57M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.07% | 42.68M | as of Jun 30, 2026 |
FIL LtdInstitution | 1.69% | 23.49M | as of Jun 30, 2026 |
TD Asset Management IncInstitution | 1.65% | 22.97M | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Toronto-Dominion Bank
Broad Canadian banking, wealth, insurance and wholesale overlap
- Bank of Montreal
Canadian universal-bank peer with major U.S. banking operations
- Scotiabank
Canadian banking, wealth and markets peer with international reach
- CIBC
Full Canadian banking overlap plus wealth and capital markets
- JPMorgan Chase
Global rival across investment banking, markets, payments and wealth
- Bank of America
U.S. wealth, commercial banking and institutional-markets rival
- Morgan Stanley
Focused rival in global wealth, asset management and securities
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Royal Bank of Canada | $204.21 | −0.96% | $286.56B | 18.2 | 17.6 | 2.8 | −22.1% |
| Toronto-Dominion Bank | $123.21 | −0.67% | $209.57B | 18.6 | 16.9 | 2.6 | −22.1% |
| Bank of Montreal | $174.59 | −1.47% | $124.11B | 20.3 | 16.3 | 2.2 | −20.6% |
| Scotiabank | $94.85 | −0.52% | $116.24B | 17.4 | 15.4 | 2.3 | −42.3% |
| CIBC | $115.08 | −1.01% | $107.73B | 15.6 | 15.7 | 2.4 | −17.4% |
| JPMorgan Chase | $340.63 | −3.24% | $943.29B | 15.2 | 14.1 | 3.2 | +27.8% |
| Bank of America | $56.83 | −1.96% | $411.32B | 13.4 | 11.6 | 2.1 | +19.3% |
| Morgan Stanley | $198.99 | −3.46% | $325.12B | 16.8 | 15.1 | 2.6 | +36.8% |
| Median | 16.8 | 15.4 | 2.4 | −17.4% |