These three Canadian banks are poised to hike their dividends as earnings season gets underway

Royal Bank of Canada will kick things off on Wednesday morning, followed by Canadian Imperial Bank of Commerce on Thursday. Next week, Bank of Montreal, Bank of Nova Scotia and National Bank of Canada will report their respective results, with Toronto-Dominion Bank closing the reporting season on Aug. 30.

Royal Bank (RY) came out with quarterly earnings of $1.66 per share, beating the Zacks Consensus Estimate of $1.62 per share. This compares to earnings of $1.41 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 2.47%. A quarter ago, it was expected that this bank would post earnings of $1.62 per share when it actually produced earnings of $1.65, delivering a surprise of 1.85%.

Add in stronger growth from the U.S. operations of BMO and TD, in particular, and Mr. Mihelic sees the banks reporting average overall earnings growth of 10 per cent, year over year, which is slightly better than the consensus.

If you are looking to get into Cdn Banks and ride the surge ZEB on the TSE holds them all.

https://finance.yahoo.com/news/royal-bank-ry-q3-earnings-113511906.html?.tsrc=rss

https://www.theglobeandmail.com/investing/markets/inside-the-market/article-bank-earnings-expected-to-shake-off-concerns-over-housing-debt/

Submitted August 22, 2018 at 09:04AM by ThreeToMidnight https://ift.tt/2BAuhS3