Topic: How To Invest

The Successful Investor Hotline – Friday, June 30, 2017

Article Excerpt

ROYAL BANK OF CANADA, $94.16, Toronto symbol RY, has agreed to settle charges by the Ontario Securities Commission that it overcharged clients that own certain mutual funds. It seems these extra payments were the result of errors by the bank, not dishonest conduct, so the situation should have little impact on its reputation. Royal will now refund those affected clients a total of $21.8 million. That’s a small amount next to the $2.8 billion, or $1.85 a share, that it earned in the three months ended April 30, 2017. OUR RECOMMENDATION: Royal Bank is a buy. Royal Bank recent coverage July 2017 issue June 2017 issue BANK OF MONTREAL, $95.22, Toronto symbol BMO, agreed this week to repurchase up to 4.0 million of its shares from a private seller at a discount to the market price. The move is part of Bank of Montreal’s plan to buy back up to 15.0 million of its common shares, or roughly 2% of the total outstanding, by April 30,…