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

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Toronto-Dominion Bank (TD.TO)

170.90

+1.61 (0.95%)

as of Jun 25, 2026, 7:59:00 pm Market Open.

2225 watching

Investor Insights

Jun 25, 2026, 12:00 am

This summary was created by AI, based on 61 opinions in the last 12 months.

The reviews for Toronto-Dominion Bank (TD) highlight a cautious but generally optimistic outlook on the stock's performance. Many experts suggest that while TD has made significant recovery after the money laundering penalty, it is currently trading at a high price-to-earnings (PE) ratio compared to historical norms, prompting some to recommend trimming positions or taking profits. The bank's valuation, hovering around 14x to over 16x PE, has raised concerns of overvaluation, especially with future growth potential in the U.S. still clouded by regulatory issues. However, the majority of analysts maintain that TD is a strong long-term investment, appreciating its solid position in Canada and improving fundamentals. They also expect that TD's efforts in wealth management and capital markets will drive future earnings growth despite short-term challenges.

Consensus

Trim

Valuation

Overvalued

Similar

BUY

It's his biggest bank holding, which he considers a North American bank. All Canadian banks have suffered from low interest rates; they're rangebound. But he's sticking with this, because the US economy is still sound where TD has half its business. TD acquired US companies at a good price. 18 months from now, TD will be much higher. He also like JPM.

BUY

How long can this bull market last? Cyclical bull markets last 24-36 months between major corrections, and we cleared one at the start-2019. Secular bull markets run 15-18 years with interruptions like 2014-5 and 2018. In 1981, the baby boomers hit peak investing years and they peaked out in 2000 which was the end of that secular bull market. The millennials are a bigger group than the boomers--and they've just hit the same point as 1981. So, this secular bull run could stretch into the 2030s. Crashes happen, but don't last. He predicts two years ahead of clear sailing. A generation low in interest rates help. TD will be fine, but he prefers JPM or BAC.

COMMENT

His problem with Canadian banks is that the earning growth is from wealth management. Markets were up last year so they were beneficiaries, but the rest of their business was flat. If we see a stall in the markets, you could see bad bank earnings. He is not buying more right now. It is the best of the big banks due to their US position.

COMMENT

RY vs TD vs SLF? He owns both of the banks and he prefers this space over the insurance sector. RY has a stronger approach on the wealth management side, whereas TD focuses on retail customers and has a larger presence in the US. Right now he would favour TD. Canadian banks of been held back as of late because of a unwarranted fear about the housing market in Canada. Dividends with the banks are great too.

WEAK BUY

A steady eddy. Own it for the dividend and safety. It's defensive. He doesn't believe that Canadian real estate is an exposed industry for the banks; good demand for homes endures. But there isn't a lot of growth to come. A 7-8% return isn't bad.

PAST TOP PICK

(A Top Pick Jan 11/19, Up 11%) It's too early to add fresh capital. We're probably looking at a rough patch for financials. He would wait for it to drop 5 points to get back in. He's generally off financials right now.

HOLD

Bank outlook in Canada He's holding tight and has been underweight banks for some time, because interest rates are low. Long-term, he's done well with TD, though last year saw only a modest return. He also owns Royal, and likes both. He isn't adding to his positions.

BUY

He is moving from US financials and into Canadian banks. They represent pretty good value. Last year you saw a rally in US financials.

COMMENT

As an income stock It's been sideways. He feels neutral about TD either way. For income, you can stay with TD is you possess strong risk management skills.

BUY

Canadian banks are safe long term and pay better dividends than American banks. If you're long-term, TD is compelling. It's well-capitalized and well-run and pays a safe 4% dividend. However, US banks offer more growth, backed by strong US consumers. He prefers American banks, but you can buy Canadian ones. True, all banks are pressured by low interest rates, but are doing cost-cutting measures.

PAST TOP PICK

(A Top Pick Jan 10/19, Up 11%) The Canadian banks lagged the TSX last year, but 11% is a reasonable return. The banks increased loan-loss provisions. Last quarter's Ameritrade deal leaves TD with 10% of Schwab, a fair portion. She likes their positioning in the US. Yields nearly 4% and happy to hold it.

PAST TOP PICK

(A Top Pick Oct 28/19, Down 2%) It's been only three months since he picked this. It remains his bank of choice in North America. Their US retail segment is their strongest (vs. their Canadian retail and Canadian corporate). So, they have three horses in the race. The best Canadian bank; you need to hold just one.

HOLD

Dividend is compelling. Stuck in a trading range. Long-term growth goal is a high single-digit pace. They didn't last year. Tepid demand for loans. Pressure on provision for credit losses. These pressures will remain for 2020. Own it with a multi-year time frame. He doesn't want to be out of this name when the next leg up starts. Banks earn high returns for investors, in a sector that outperforms the market. Yield is 4%.

HOLD

Of all the Canadian banks this was the laggard, based on price return. It is priced a little on the rich side. The yield is about 4%, making it attractive. He does not hold a large position, but would suggest others at these valuation levels (both trading on book value and yield).

COMMENT

CDN Bank shares or ETF? As a porfolio manager, he prefers to use his expertise to pick individual stocks. An ETF gives you the group and no ability to outperform. Canadian banks are favorable over US counterparts he thinks, including the higher yield. He likes BNS and RY. He does not hold much in TD at the moment. He holds about 20% of his portfolio in banks.

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Toronto-Dominion Bank (TD.TO)