RY - Royal Bank of Canada: Continued Residential Mortgage Demand Encouraging
2024-06-06 08:56:03 ET
Summary
- Royal Bank of Canada has continued to see growth across the residential mortgage segment.
- A recent rate cut by the Bank of Canada could spur further demand across this segment.
- I take a bullish view on Royal Bank of Canada stock.
Investment Thesis: I take a bullish view on Royal Bank of Canada.
In a previous article back in March 2023, I made the argument that while Royal Bank of Canada ( RY ) had been seeing growth in net interest income at the time, this had been accompanied by a higher provision for credit losses, which ultimately led me to rate the stock as a Hold....
Royal Bank of Canada: Continued Residential Mortgage Demand Encouraging