TSE:TD

Toronto-Dominion Bank (TD.TO)

171.48
+1.11 (0.65%)
as of Sep 18, 2026, 8:00:00 pm Market Open.
2220 watching
0
TOP PICK
Their largest bank holding. It has 50% exposure to the US. They are expected to raise the dividend again in November. He expects it move to around $82 per share. Yield 3.85% (Analysts’ price target is $80.25)
TOP PICK

Has a better growth rate than most banks in Canada but trades in line with valuation. They have US exposure, and it has the best balance sheet among the banks. If rate cuts are happening, banks can do well. (Analysts’ price target is $80.25)

BUY
The Canadian banks have had a great move in the last few weeks. The longer end of the interest curve has steepened in the last few weeks. This is his favorite bank at this time. They have the best franchise. Canadian banks still look relatively attractive even at these levels.
HOLD

Hold these companies. They can continue to increase the dividends. BMO-T is his least favourite of the big 5 right now. Their US business is not as stable as TD-T's. This is the one he has been trimming recently.

BUY

He likes the Canadian banks, especially this, BNS and RY. They pay a slightly lower dividend, but reinvest that, particularly in their US operations. Trades at 11x forward earnings. A great stock.

COMMENT
Why does volume trade spike in the last minutes of trading? The bulk of trading volume for most stocks actually focuses on the early start of the day, so this is unusual. As this in the index, there may be some index balancing that is going on. He is uncertain overall.
BUY
Still buying for new clients. Valuations are attractive. US operations growing nicely. Flexibility on expenditure spending. Earnings will grow, and so will the dividend.
BUY
It's a core holding and he will continue to buy it. An excellent franchise that will earn through the inverted yield curve. True, falling interest rates will pressure the banks, but those low interest rates lead to cheaper for home and car financing and so easier for indebted Canadians to carry that debt. The Canadian banks are a well-run oligopoly. The TD dividend will remain solid and grow, though at a slower rate during a downturn.
HOLD

He's long owned this, a great performer. Banks face headwinds, but TD trades at 10x earnings and pays a 4% yield. The banks can go lower in a weak economy, but the banks are long-term holds over 5-10 years. Stomach the volatility. You're paid to wait. Balance sheet is decent. TD (and RY) are investing in tech to keep up with the times.

PAST TOP PICK
(A Top Pick Sep 05/18, Down 6%) It is very difficult for them to lend money with a flat yield curve. Over time they have been a safe place to be. He is going to stick with it. Sometimes you just have to be patient in a market and if something is good, don't be shaken out of it.
COMMENT

Royal is a little more expensive than the other Canadian banks. The news of OSC charges on FX trading will create some headwinds -- requiring a fine to be paid. He owns TD instead right now as they have more exposure in the US.

HOLD
Wait until the margin calls are finished and we'll see where the stocks end up. Would hold right now.
COMMENT
Nothing wrong with this strategy. He can buy it back or sell another option later. Or you can just leave it alone, which is also good. and you at $70, then you get called, you could lose money.
BUY
Well-run with huge US retail operations, which is where you want to be. US delinquency rates are low because the US economy is strong. Canadian operations are strong, too, but Canadians are drowning in debt. This is US growth story, while capital market activity in Canada is not happening. No, don't short a Canadian bank like some are. All Canadian banks are well-run and financially sound, but America is a better place to invest.
BUY
The banks are deeply oversold no.w Banks and the energy stocks will drive the TSX in the next few months. Exit at $72.50.
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