RBC Stock Drops 2% Despite Record Net Income

Royal Bank of Canada's stock price fell by 2.03 percent on September 24, 2026, to CAD 281.35 on the TSX.

The bank's third-quarter net income reached a record high of CAD 6.024 billion, up 11 percent from the previous year, and diluted EPS increased by 13 percent year over year and 10 percent from the previous quarter.

Total revenue rose 9 percent year over year to CAD 18.538 billion in Q3 2026, compared with CAD 16.985 billion in Q3 2025.

Jeferries raised its price target for Royal Bank of Canada's stock from CAD 268 to CAD 271 on September 3, 2026, which is still below the current trading level.