NEW YORK (TheStreet) -- Royal Bank of Canada (RY - Get Report) shares closed trading up 0.07% to $54.20 on Wednesday after the bank reported its third quarter financial results before the opening bell today.
The bank reported third quarter net income of $1.99 billion, or $1.35 per share, on revenue of $7.18 billion.
Analysts on average were expecting the company to report earnings of $1.29 on revenue of $6.72 billion.
Separately, the company announced that it was raising its quarterly dividend to 79 cents per share payable November 24 to shareholders of record on October 26.
TheStreet Ratings team rates ROYAL BANK OF CANADA as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ROYAL BANK OF CANADA (RY) a HOLD. The primary factors that have impacted our rating are mixed – some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share and increase in net income. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year."RY data by YCharts