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

A core holding for him. He bought it yesterday. It's well-diversified geographically in the U.S. east coast. They will be a player in online brokerages with merger of Ameritrade and Schwab. Trades at a cheap 8.5x earnings while Canadian banks trade at 10-11.5x. They grow their dividend 10% annually, the leader; earnings grow at 13%. The banks will continue to outperform the TSX. (Analysts’ price target is $73.86)

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TOP PICK

Also boring, but slightly riskier is TD Bank. Some may argue, Wait, interest rates just got slashed by 50 points and could fall further. Also, TD has a lot of U.S. operations--and growing fears of the coronavirus. All this is true, but the big five Canadian banks are still an oligopoly. Also, the Canadian housing market hasn't crashed like naysayers have been predicting for years. Low rates will limit growth, but consider that TD just bumped their dividend by 6% and the American consumer and its housing market remain strong. Americans are still buying and borrowing, and they'll do so at TD. True, TD has fallen 11% compared to the TSX's 7.8% in recent weeks, but its long-term future looks assured. TD is a steady eddy, perhaps the steadiest in Canada.

TOP PICK

A quality company with a dividend that just went up 6%. They will be able to increase the dividend going forward. Longer term, growth for Banks in Canada may be slow, but they can add efficiency from technology improvements and asset prices will continue to rise if interest rates remain low. Yield 4.66% (Analysts’ price target is $77.14)

WEAK BUY

Favourite Canadian bank. Solid grower in the US. Stock's been beaten up. The banks are going to have a pretty weak year. People are on the edge, so loan losses could increase. Don't go hog wild on the banks. The banks look interesting at these levels.

BUY ON WEAKNESS

There is support for TD just below $70. It could be a reasonable time to buy the banks in the near future. There is probably a good chance for upside and it pays a good dividend. He's not overly bearish on banks.

TOP PICK

Owns all 6 big banks. Chose it because it's trading at a market multiple, but typically trades at a premium. In US, consumer is in better shape, employment is still growing, wages are going up. Yield is 3.9%. (Analysts’ price target is $79.40)

WEAK BUY

Underperforming? All banks have been limited by low interest rates, but still pay good yields. You're not losing money in TD, but he doesn't see rates changing much. You can expect 8-10% a year, including the yield. 8-10% isn't bad. Low yields will continue to squeeze margins. Anyone should buy banks and he has no worries buying this.

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.

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Toronto-Dominion Bank (TD.TO)