Royal Bank Of Canada (TSX:RY) Q2 Profits Jump 171% YoY: Buy Alert!

3 min read | May 27, 2021 09:12 AM EDT | By Raza Naqvi

Royal Bank Of Canada (TSX:RY) Q2 Profits Jump 171% YoY: Buy Alert! — Image source: Jirapong Manustrong, Shutterstock

Royal Bank Of Canada (TSX:RY) Stock Performance

Stocks of Royal Bank Of Canada have been riding high for the past few months, growing by 11 per cent in the last quarter.

The scrips soared by 41.4 per cent in the past year.

RY stock hit a 52-week high of C$ 124.62 on Tuesday, May 25, exactly a year after it posted a 52-week low of C$ 82.2 on May 25, 2020.

1-year chart of stock performance, volume and moving average exponential of Royal Bank Of Canada (Source: EODHD/Others)

Other Relevant Financial Highlights of RBC’s Q2 FY21 Results

In the light of the present rules by the Office of the Superintendent of Financial Institutions (OSFI), Royal Bank of Canada left its quarterly dividends unchanged at C$ 1.08. It registers a dividend yield of 3.9 per cent, according to its earnings report.

RBC’s total revenue increased to C$ 11.6 billion in Q2 FY21, up from that of C$ 10.3 billion in Q2 FY20.

The bank’s return on equity increased by 7.3 per cent YoY to 19.4 per cent. It offers a return on assets of 0.7 per cent and holds a debt-to-equity (D/E) ratio of 0.1, as per TMX data.

The above constitutes a preliminary view and any interest in stocks should be evaluated further from an investment point of view.

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