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

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Toronto-Dominion Bank (TD.TO)

175.27

+2.46 (1.42%)

as of Jul 15, 2026, 8:00:00 pm Market Open.

2223 watching

Investor Insights

Jul 15, 2026, 12:00 am

This summary was created by AI, based on 58 opinions in the last 12 months.

Toronto-Dominion Bank (TD) has experienced substantial growth in recent years, particularly following recovery from previous money-laundering penalties. While the bank's wealth management and capital market segments remain strong and retail operations are relatively stable, many experts caution that current valuations are high, trading at approximately 16x PE against historical averages of around 13x PE. There is a sentiment that TD is overvalued by about 5%, with calls to trim positions or take profits after a significant run-up. Additionally, despite robust record earnings in recent quarters, concerns linger regarding growth potential in the U.S. due to imposed asset caps, leading some analysts to recommend a wait-and-see approach before re-entering the stock. Overall, investor sentiment is mixed—while some maintain long-term confidence in TD's dividend growth potential, others see risk in the high valuation and lack of future growth drivers.

Consensus

Overvalued

Valuation

Overvalued

Similar

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.

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%.

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Toronto-Dominion Bank (TD.TO)