Company did not provide specific guidance for the current quarter or full year
Result drivers
Wealth management gains - Higher fee-based client assets reflecting market appreciation and net sales drove Wealth Management results, also leading to increased variable compensation.
Capital markets strength - Higher revenue in Corporate & Investment Banking and Global Markets, mainly due to increased equity and debt origination and M&A activity, contributed to Capital Markets growth.
Net interest income growth - Increased net interest income from average volume growth in Personal Banking, Commercial Banking and Wealth Management supported overall results.
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the banks peer group is "buy".
Wall Street's median 12-month price target for Royal Bank of Canada is C$308.50, about 7.1% above its August 26 closing price of C$288.11.
The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 15 three months ago.
Quarterly results beat expectations
Royal Bank Of Canada Q3 results beat on wealth management, markets strength
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