Toronto-Dominion Bank (TD.TO) Buy, Sell or Hold

Toronto-Dominion Bank (TD.TO)

171.48

+1.11 (0.65%)

as of Sep 18, 2026, 8:00:00 pm Market Open.

2220 watching

TOP PICK

She likes the banks, releasing provisions put on last year. When the banks will be allowed to raise dividends and buyback shares, TD will likely hike its dividend by double digits. TD has the strongest capital position among the big banks. TD trades at a premium valuation to the group. They have a strong retail presence in Canada and the U.S. and so will benefit as those economies recover. They have a position in Schwab, a nice source of capital. (Analysts’ price target is $92.85)

BUY

Why is it underperforming its peers, like RY and BMO? He cut his teeth following the banks since 1971. The banks may be a homogenous group, but there's always a cheap stock and an outperformer, and the banks rotate these positions. So, pick the laggard. He isn't worried that TD is lagging; don't worry about these short-term things.

HOLD

If you already own this, you're very well positioned. The banks forward PE is 11x is fine. They can't raise dividends or buyback shares until regulators allow them, which is likely to happen. US banks pay far lower dividends, but buyback more shares, but it's the reverse with Canadian banks. Expect returns for TD in the future: 4% on the dividend, 1-2% on buybacks + topline growth.

BUY

He lightened up on the banks last quarter. When stocks stop rising on good news, he gets concerned. Canadian banks had quite a run. Lower yields were a headwind. Likes the US assets. Overcapitalized. Eventually will raise dividends, buy back shares, do acquisitions. He's adding. Valuations are at the higher range, buy you could do a lot worse than owning the banks.

PAST TOP PICK

(A Top Pick Jul 07/20, Up 51%) Valuation premium and analyst fan base has waned a bit. Due to US expansion, plus US net interest margin sensitivity is high. Continues to own and buy.

TOP PICK

Canada's second largest bank. Increasingly, a force to be reckoned with in US banking. War chest of excess capital, which they've signalled they'll use to make acquisitions. Good leadership changes. 14% ROE. Worst of net interest margin pressures is over, capital markets firing on all cylinders, likes the business mix. Good value here. Clear line of sight to double digit total return over a cycle. Yield is 3.36%. (Analysts’ price target is $93.14)

TOP PICK

Strongest capital position of all the big 6 banks. Their interest in Schwab can be monetized. Want to expand their already large US presence. Loan growth should pick up. Will benefit when regulatory restrictions are lifted. Should continue to increase dividends. Yield is 3.61%. (Analysts’ price target is $93.28)

BUY

Benefits from a rising interest rate environment. With its footprint in the US, influenced by the USD. Very well capitalized, solidly profitable, not that expensive. In great parts of the US; bought its assets really well. Cream of the crop of retail banks in Canada, and less sensitive to capital markets.

BUY

His personal favourite, a forever hold. Great presence in retail. Great footprint into the US. A close second to RY as the most conservative. Expects positive earnings surprises.

BUY

Rate hikes are good for Canadian banks. He expects dividend growth sometime this year, especially TD which is very well-capitalized. They have billions of dollars, enough cash to buy back shares, raise the dividend a lot and/or make acquisitions, like a bank in the U.S. southeast. He also likes their deal with Ameritrade; this business combination will yield $2 billion in synergies. In Canada, their domestic personal and commercial banking business is #2 or #3. Shares are at all-time highs, but you can still buy this and other Canadian banks, which have been the cornerstones of his portfolios. Canadian banks make all-time highs time and time and time again.

BUY

Looking at US banks, their read through is very good. Loan loss reversals, investment banking is doing well. TD will benefit from this as well. All Canadian banks look good here. It is trading at a premium right now. Likes BMO more.

BUY

Likes banks in general. TD is on the upper end of price. Likes the good price momentum, reasonable multiple, and return of reserves. The rising yield curve is good for the banks. Mortgage rates have started to go back up again. Payout ratio is good, earnings are good. US exposure is a positive right now. Retail trading has exploded.

BUY

Today is as good a day as any to buy it. They have a great presence here in Canada and a strong business in the US. He thinks restrictions on buying back shares or raising dividends will be loosened. It should be good for the stock price.

BUY

Likes it. Will benefit from trend of higher interest rates over the next 12-18 months. Net interest margin improvement is very important to get higher ROEs. Super high quality. Very well managed. Yield of almost 4%.

PAST TOP PICK

(A Top Pick Mar 04/20, Up 26%) It remains discounted to their peers. TD has had minor struggles in recent years, but he likes it long-term. He has reduced his overall bank weighting, but will stick with TD as his biggest bank holding. He hopes for a pullback. The rise in rates has pushed up this stock. That rise could continue into summer.

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Toronto-Dominion Bank (TD.TO)