TD - The Toronto-Dominion Bank

NYSE - NYSE Delayed Price. Currency in USD
57.23
+0.08 (+0.14%)
At close: 4:02PM EDT
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Previous Close 57.15
Open 57.00
Bid 0.00 x 900
Ask 58.50 x 1200
Day's Range 56.91 - 57.40
52 Week Range 47.73 - 62.00
Volume 867,750
Avg. Volume 1,183,496
Market Cap 103.707B
Beta (3Y Monthly) 1.07
PE Ratio (TTM) 12.67
EPS (TTM) N/A
Earnings Date N/A
Forward Dividend & Yield 2.23 (3.90%)
Ex-Dividend Date 2019-10-09
1y Target Est N/A
Trade prices are not sourced from all markets
  • Deutsche Bank (DB) Continues Revamping, To Layoff Employees
    Zacks

    Deutsche Bank (DB) Continues Revamping, To Layoff Employees

    Deutsche Bank (DB) continues overhauling, which includes reducing dozens of employees in its global fixed-income unit, reports Bloomberg.

  • 7 of the Best Financial Stocks to Buy Now
    InvestorPlace

    7 of the Best Financial Stocks to Buy Now

    When the U.S. Federal Reserve ended its interest rate hiking cycle and started lowering rates instead, financial stocks drifted lower. With lower rates, banks earn fewer profits from the interest rate spread. Plus, rate cuts are usually done to stimulate a slowing economy. If banks rely on a healthy economy to get deals and drive more business, then we may expect profits to slow down.But there are several financial stocks to buy now that have the potential to bounce back higher as profit growth steadies.A few of these stocks to buy happen to be Canadian banks, which means there are a few important things to consider when investing in these stocks:InvestorPlace - Stock Market News, Stock Advice & Trading Tips * Even though they are listed on U.S. exchanges, a drop in the Canadian dollar against the U.S. dollar may hurt their stock price. * Investors may want to hold Canadian banks in a retirement account to avoid the 15% withholding tax. * The 10 Reasons to Buy Alibaba Stock With that out of the way, the here are the best financial stocks to own based on valuation, future growth prospects and dividend yield. Best Financial Stocks to Buy Now: Toronto-Dominion Bank (TD)Source: Bandersnatch / Shutterstock.com Toronto-Dominion Bank (NYSE:TD) reported third-quarter earnings on Aug. 29. It earned C$1.79 a share (non-GAAP) and GAAP earnings-per-share of C$1.74; meanwhinel, revenue rose 6.1% year-over-year to C$10.5 billion.TD has a healthy balance of exposure in Canadian and U.S. retail. Canadian Retail adjusted net income rose 3% from last year to C$1.92 billion. It benefited from both higher volumes and higher margins. Revenue from its wealth and insurance business also increased. Its U.S. Retail Bank adjusted net income grew 11% year-over-year to C$1.29 billion. TD Ameritrade performed very well as revenue grew 21% YoY.TD reported positive results in each of its segments because it continued to elevate the customer experience. It introduced solutions such as an international remittance tool. This lets its customers send money through Easy Web for a cash payout at over 500,000 Western Union (NYSE:WU) locations worldwide. Its discount brokerage benefited from a refreshed Learning Center. In its U.S. Retail bank unit, revenue grew due to strong loan and deposit growth, along with higher fee income.TD's net interest margin was 3.27%, down sequentially on lower deposit margins and balance sheet mix. It also posted a 12% sequential increase in credit card losses ($191 million). These numbers are not enough to alarm investors. Its Tier 1 ratio is 12%, consistent with the prior quarter. Overall, TD benefited from strong credit quality across its portfolios and expects continued growth ahead.TD shares have a dividend yielding 4.16% and a price-to-earnings ratio of 11.6X. Royal Bank of Canada (RY)Source: Shutterstock Royal Bank of Canada (NYSE:RY) reported non-GAAP EPS of C$2.26 and GAAP EPS of C$2.22. Net income grew 8% to C$1.609 billion. Revenue rose 4.6% YoY to C$11.54 billion.The company reported higher earnings in Personal and Commercial Banking and Wealth Management and Insurance. It benefited from higher average fee-based client assets, driven by market appreciation and net sales. Net interest income grew thanks to average volume growth. This was offset by lower earnings in Capital Markets and Investor and Treasury Services. Royal recorded an 8 bps increase in provisions for credit losses (PCL), due to higher provisions in Capital Markets. But its CET1 ratio is a healthy 11.9% and the company raised its dividend by 3% to $1.05 a share. Royal also faced higher costs in support of business growth and higher variable compensation.To further increase shareholder returns, Royal Bank announced that it bought back C$197 million in the quarter and 5.7 million shares year-to-date.Looking ahead, the bank's strong underlying credit quality from its Canadian residential portfolio should continue to lift results. Interests are likely to fall next month in the country, stimulating mortgage demand. In Q3, its total mortgage portfolio was C$256 billion. * 10 Mid-Cap Stocks to Buy Royal Bank trades at a P/E of 11.39 times earnings, while the stock offers a dividend yielding 4.21%. Bank of Montreal (BMO)Source: Rajiv Patel Via FlickrBank of Montreal (NYSE:BMO) fell hard in August ahead of its earnings report but finally found support at around $67. Even after a slight bounce, closing at $68.60, BMO stock trades at 9.7 times earnings. Its dividend yield is 4.55%. BMO reported non-GAAP EPS of C$2.36 and revenue growth of 4.5%, to C$5.78 billion. Despite reporting a higher provision for credit losses in the quarter, the market bid the stock higher after the quarterly report.Despite reporting higher provisions, its CEO expressed confidence for its overall credit quality in its portfolio. The higher provision is due to a few factors. First, higher Canadian consumer losses realized are due almost entirely to the implementation issues with a new consumer collections platform. Second, it took a single large loss from its Canadian commercial portfolio. And third, its performing loans (PCL) increased due to a modestly softer economic outlook.To improve its performance for the rest of the year, Bank of Montreal will look for efficiencies. As it works to lower its efficiency ratio down and delivering it through operating leverage, it aims to reach an efficiency target of 58% by 2021.In the fourth quarter, the bank is on track to deliver positive operating leverage. Expense growth will slow by half the rate of the first half of the year. JPMorgan Chase (JPM)Source: Bjorn Bakstad / Shutterstock.com JPMorgan Chase (NYSE:JPM) reported quarterly results on July 16, which sent JPM stock to a YTD high of around $116. But the stock fell slightly and closed recently at $109.22. Shares are valued at 11.12 times earnings and have a dividend yield of 3.3%.On Aug. 14, when the yield curve first inverted (the 10-year Treasury yield fell below the two-year Treasury rate), bank stocks sold off. Yet economic expectations are still strong and should limit any drop in JPM stock.In Q2 19, JPMorgan reported net income of $9.7 billion and EPS of $2.82. While total loans rose 2%, home lending average loans fell 7% YoY. Average deposits rose 4% YoY. The bank ended the quarter with a Standardized CET1 ratio of 12.2%. In the quarter, JPMorgan delivered strong capital returns by distributing $7.5 billion to shareholders. This includes a $5 billion stock buyback. * 10 Lithium Stocks to Buy Despite the Market's Irrationality JPMorgan's Consumer and Community Banking delivered $4.2 billion in net income, up 22% from last year. Higher net interest income and higher auto lease volumes drove these strong results. The strong credit performance across businesses and another quarter of positive operating leverage should continue for the rest of the year. The credit business benefits from credit costs of $1.1 billion, down 5% YoY. Charge-off rates of 8 basis points were favorable in the quarter and will continue to be so. Strong card loan growth and a good mortgage business suggest steady performance for the next few quarters. Banco Santander (SAN)Source: Mike Mozart via Flickr (Modified)Banco Santander (NYSE:SAN) looked as though it would hold the $4.60 - $5 range earlier this year. That range broke down when the stock fell last month and in August. SAN stock closed at $3.78 and has a P/E of 7.89X. Its dividend yield is 6.88%.In the second quarter, Santander reported strong sequential volume growth in loans (up 2%) and consumer funds (up 3%). Profits grew by 8%. Its loyal and digital customer base grew at an impressive double-digit growth. In Q2, profits of EUR 1.391 billion was affected by a EUR 706 million charge, mostly due to restructuring costs. For H1/2019, its underlying profit topped EUR 4,045 billion ($4.469 billion).Santander has a healthy profitability and solvency profile. CET1 was 11.3%, down 49 bps YTD due to regulatory effects and restructuring costs. With an enormous customer base and steady growth over the last year, Santander is one of the worst-performing financial stocks. Management is aware of the difficulty with growing revenue in mature markets. More competitors are coming to the market, so price reductions hurt profit growth. Still, it continues to increase its strategy of earning customer loyalty. And as it cuts costs by at least EUR 1 billion in Europe, profitability will grow.Banco Santander has a healthy balance sheet and continues to build its capital ratio. With lower costs and profit growth ahead, Santander stock should eventually find a bottom. Bank of America (BAC)Source: Tero Vesalainen / Shutterstock.com Bank of America (NYSE:BAC) showed a "double top" at $31 between May and the end of July on the charts. And for the rest of August, the stock slumped, bottoming in the $26 range and closing recently at $27.33. The stock has a P/E of 9.73X and a dividend yield of 2.63%. This U.S. bank is relatively cheaper compared to its peers.BAC reported earnings on July 17: GAAP EPS of 74 cents and revenue of $23.1 billion. Revenue grew 2%, but it is the return metrics that should impress investors. Return on average assets rose to 1.23%, up from 1.17% last year. The return on average common shareholders' equity topped 11.6%, up from 10.8%. Bank of America grew loans and leases by 4%. Average deposits increased $75 billion, up 6% YoY. Since Q2 18, client flows increased by $24 billion.BAC reported a CET1 of $171 billion and a CET1 ratio of 11.7%. To signal confidence in its business growth ahead, it raised its dividend by 20%. And when the book value per share rose 10% to $26.41, investors are clearly paying a very small premium for the business. * 7 Stocks to Buy In a Flat Market The market is overlooking the consistent performance of this bank. It delivered positive operating leverage for 18 consecutive quarters. So, growing consumer banking digital usage, increasing average deposits and higher loans and leases will lead to continued profit growth. Wells Fargo (WFC)Source: Ken Wolter / Shutterstock.com Wells Fargo (NYSE:WFC) is still in the dog house, years after it signed customers up for unwanted auto insurance and opening of accounts in customers' names. The stock is stuck in the $45 - $50 range, closing at $46.19 recently. At a P/E of 9.8X and with a dividend yielding 4.49%, investors may wait for the company to continue repairing its reputation. As it wins back customers, growth will come.Wells Fargo reported Q2 2019 net income of $6.2 billion and diluted EPS of $1.30. Its return of average tangible common equity (ROTCE) was 15.78%. Customer sentiment improved when a branch survey indicated the highest level of customer loyalty and "overall satisfaction with the most recent visit" in over three years. Loans and deposits grew from last year, debit and credit cards rose and credit card usage increased. The company returned $6.1 billion to shareholders through stock buybacks and stock dividends. And with its dividend at 45 cents a share, this is up 15% from last year.Wells Fargo expects that despite the Fed funds rate falling, consumer deposits will increase. Since deposits are very inexpensive to operate, it expects healthy benefits from higher deposits. It also has a promotional activity plan ready to attract deposits. Costs are always something the bank may work on lowering. As it prioritizes expense control without compromising risk controls, performance should improve.As of this writing, Chris Lau owned shares of Banco Santander. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Best Tech Stocks to Buy Right Now * 10 Mid-Cap Stocks to Buy * 8 Precious Metals Stocks to Mine For The post 7 of the Best Financial Stocks to Buy Now appeared first on InvestorPlace.

  • The Toronto-Dominion Bank (TD) Q3 2019 Earnings Call Transcript
    Motley Fool

    The Toronto-Dominion Bank (TD) Q3 2019 Earnings Call Transcript

    TD earnings call for the period ending July 31, 2019.

  • TD Bank, Royal Bank of Canada Face Fine for FX Malpractice
    Zacks

    TD Bank, Royal Bank of Canada Face Fine for FX Malpractice

    Toronto-Dominion Bank (TD) and Royal Bank of Canada (RY) face penalty of C$24.5 million for trading malpractice in foreign exchange transactions between 2011 and 2013.

  • RBC, TD Bank to pay C$24.5 million to settle forex trading charges: regulator
    Reuters

    RBC, TD Bank to pay C$24.5 million to settle forex trading charges: regulator

    Royal Bank of Canada and Toronto-Dominion Bank have agreed to pay a combined C$24.5 million ($18.5 million) to settle charges of foreign exchange trading malpractices brought against the Canadian banks by a regulator, following a settlement hearing held on Friday. In separate statements of allegations, the Ontario Securities Commission (OSC) said this week that TD and Royal Bank of Canada had failed to have sufficient supervision and controls in their foreign exchange trading businesses from at least 2011 to 2013. "The settlement will send a clear message to firms about the importance of promoting a culture of compliance," Cullen Price, Manager, Market Abuse Team, Enforcement at OSC said during TD's hearing.

  • Reuters

    UPDATE 1-RBC, TD Bank to pay C$24.5 mln to settle forex trading charges -regulator

    Royal Bank of Canada and Toronto-Dominion Bank have agreed to pay a combined C$24.5 million ($18.5 million) to settle charges of foreign exchange trading malpractices brought against the Canadian banks by a regulator, following a settlement hearing held on Friday. In separate statements of allegations, the Ontario Securities Commission (OSC) said this week that TD and Royal Bank of Canada had failed to have sufficient supervision and controls in their foreign exchange trading businesses from at least 2011 to 2013. "The settlement will send a clear message to firms about the importance of promoting a culture of compliance," Cullen Price, Manager, Market Abuse Team, Enforcement at OSC said during TD's hearing.

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    Zacks

    Barclays Mulls Divesture of Automated Options Trading Unit

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  • Toronto-Dominion (TD) Q3 Earnings Grow on Higher Revenues
    Zacks

    Toronto-Dominion (TD) Q3 Earnings Grow on Higher Revenues

    Improvement in revenues and strong balance sheet support Toronto-Dominion's (TD) fiscal Q3 earnings.

  • Reuters

    RPT-WRAPUP 1-Canadian banks brace for tougher times as 'Goldilocks' era winds down

    TD Bank Group, the country's No. 2 lender by market value and the last of Canada's top six banks to report quarterly profits on Thursday, slightly missed analysts' expectations. The latest earnings season for Canadian banks saw higher loan loss provisions, subdued margin growth and capital markets weakness offsetting retail and wealth management strength, with three of the top six banks missing market expectations for profit growth. Banks are raising bad debt provisions as they take a worsening macroeconomic outlook into account in their assumptions about future loan-loss levels at a time when household debt in Canada is near a record high.

  • Canadian banks brace for tougher times as 'Goldilocks' era winds down
    Reuters

    Canadian banks brace for tougher times as 'Goldilocks' era winds down

    TD Bank Group , the country's No. 2 lender by market value and the last of Canada's top six banks to report quarterly profits on Thursday, slightly missed analysts' expectations. The latest earnings season for Canadian banks saw higher loan loss provisions, subdued margin growth and capital markets weakness offsetting retail and wealth management strength, with three of the top six banks missing market expectations for profit growth. "The last few years have been an absolutely Goldilocks environment for credit for the banks," as low interest rates and unemployment eased consumer burdens while robust profits helped commercial loan books, said Brian Madden, portfolio manager at Goodreid Investment Counsel.

  • TD’s Margins Squeezed as Earnings Miss Analysts’ Estimates
    Bloomberg

    TD’s Margins Squeezed as Earnings Miss Analysts’ Estimates

    (Bloomberg) -- Toronto-Dominion Bank’s margins are starting to shrink.Toronto-Dominion -- the Canadian bank known for fat net interest margins, the difference between what a bank charges for loans and pays for deposits -- saw them narrow on both sides of the border in the fiscal third quarter, with a decline of 11 basis points from the previous three months at its U.S. retail division and a 3 basis point drop at its domestic personal and commercial bank.“Interest rates in the U.S. have been declining, and so we see a little bit of a decline due to the interest rate environment,” Chief Financial Officer Riaz Ahmed said Thursday in a phone interview. There are “also some effects of our balance sheet mix as we continue to originate deposits and the reinvestment opportunities are at lower returns.”While Canada’s second-largest lender typically benefits from the widest domestic net interest margins among its peers, the advantage may be dissipating. Margins in the Canadian personal-and-commercial division dropped to 2.84%, while its U.S. margin shrunk to 3.27%, the lowest since the second quarter of 2018.Still, Toronto-Dominion Bank posted record profit in the quarter ended July 31, with new benchmarks in both its Canadian and U.S. retail operations, though earnings missed analysts’ expectations. Overall net income rose 4.6% to C$3.25 billion, or C$1.74 a share, and adjusted earnings of C$1.79 a share were less than the C$1.80 average estimate of 13 analysts in a Bloomberg survey.“Overall, the results came in slightly below expectations despite a strong trading quarter that reminds us of the volatility of this line for this bank,” CIBC Capital Markets analyst Robert Sedran said in a note. “The strain from the lower interest rate environment was evident as it was for other banks this quarter.”Shares of Toronto-Dominion rose 0.4% to C$72.31 at 9:35 a.m. in Toronto. The stock has increased 6.5% this year, outperforming the 4.9% gain for the eight-company S&P/TSX Commercial Banks Index.‘Better Performance’If interest rates continue to decline, “it’s terrific for the economy and the consumers, so we could see much better performance on volumes as well as credit, but it would obviously have a downward bias on margins,” Ahmed said.The latest earnings report showed that Toronto-Dominion is getting spending under control after three quarters in which expense growth outstripped revenue gains. That trend ended in the third quarter, with non-interest expenses rising 4.7% from a year earlier, less than the 6.1% increase in revenue, which reached a record C$10.5 billion.Also in the report:Toronto-Dominion may have more bank branches in the U.S. than Canada, but the lender’s domestic business generates more profit. Canadian banking posted a 2.2% increase in earnings, to C$1.42 billion. Profit at the U.S. retail division, which includes contributions from online brokerage TD Ameritrade, rose 13% to C$1.29 billion.The bank’s TD Securities unit had been a disappointment this year, with a net loss in the first quarter and a 17% earnings decline in the second quarter, making it the worst-performing Toronto-Dominion division. The capital-markets unit rebounded in the third quarter, with earnings rising 9.4% as trading revenue surged. Trading-related income jumped to C$500 million, up 82% from a year earlier, led by interest rate and credit trading.(Updates with shares in seventh paragraph.)To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.netTo contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, ;David Scanlan at dscanlan@bloomberg.net, Daniel Taub, Steve DicksonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Toronto-Dominion Bank (TD) Q3 Earnings Match Estimates
    Zacks

    Toronto-Dominion Bank (TD) Q3 Earnings Match Estimates

    Toronto-Dominion (TD) delivered earnings and revenue surprises of 0.00% and 3.68%, respectively, for the quarter ended July 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Reuters

    TD Bank profit rises on U.S. retail, wholesale banking growth

    The bank posted 11% growth in adjusted earnings in its U.S. retail business and a surprise 9% increase in wholesale banking, which includes capital markets and investment banking, while Canadian retail income rose 3.4%. TD Bank shares rose 0.8% to C$72.10 in morning trading in Toronto, while the Toronto stock benchmark gained 0.7%. Total loan-loss provisions at TD Bank climbed 17% to C$655 million ($493.41 million) in the quarter, better than the C$689 million analysts had expected.

  • TD Bank, Royal Bank of Canada Accused of Trading Malpractice
    Zacks

    TD Bank, Royal Bank of Canada Accused of Trading Malpractice

    Toronto-Dominion Bank (TD) and Royal Bank of Canada (RY) accused of trading malpractice in foreign exchange transactions between 2011 and 2013.

  • Canadian regulator summons RBC, TD Bank over malpractice charges
    Reuters

    Canadian regulator summons RBC, TD Bank over malpractice charges

    Both banks face charges relating to allegations that their traders used confidential customer information to gain potential advantage in foreign exchange transactions that took place between 2011 and 2013, the regulator said. The hearing will be held on Friday at the commission's office in Toronto. The banks are accused of failing to have sufficient controls in their FX trading business during the three-year period, according to two separate 'statements of allegations' from the Ontario Securities Commission.

  • Why Toronto-Dominion Bank (TD) is a Great Dividend Stock Right Now
    Zacks

    Why Toronto-Dominion Bank (TD) is a Great Dividend Stock Right Now

    Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Toronto-Dominion Bank (TD) have what it takes? Let's find out.

  • Toronto-Dominion Bank (TD) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
    Zacks

    Toronto-Dominion Bank (TD) Earnings Expected to Grow: What to Know Ahead of Next Week's Release

    Toronto-Dominion (TD) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

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    Zacks

    Top Ranked Income Stocks to Buy for August 19th

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    Zacks

    Canadian Banks Due to Report Q3 Earnings: RY, CM, BNS & More

    Canadian banks are expected to report decent earnings growth, driven by slight rise in interest income. However, dismal non-interest income performance and higher expenses may act as dampeners.

  • Top Ranked Income Stocks to Buy for August 8th
    Zacks

    Top Ranked Income Stocks to Buy for August 8th

    Top Ranked Income Stocks to Buy for August 8th

  • This is Why Toronto-Dominion Bank (TD) is a Great Dividend Stock
    Zacks

    This is Why Toronto-Dominion Bank (TD) is a Great Dividend Stock

    Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Toronto-Dominion Bank (TD) have what it takes? Let's find out.