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
DON'T BUY
They have done extremely well over the last few years. Their US expansion has gone beyond their expectations. He would look more at CM-T or BNS-T. Any of the big banks are relatively safe places to be. You could buy more of the higher yielding ones.
TOP PICK
The Canadian banks are relatively attractive on a valuation basis. It is trading at 11 times forward earnings. She does not see the Canadian economy going into recession and they will be able to continue growing earnings. Yield 3.9% (Analysts’ price target is $83.54)
WAIT
He would buy if it goes to around $71. He likes TD with its US holdings. He would wait to make an entry in this name.
TOP PICK
A quality solid business who just beat their earnings estimates this quarter. Trades around 11 times earnings. Yield 3.92% (Analysts’ price target is $83.32)
PARTIAL SELL
Why does TD get hit the hardest? Depends on the time period. YTD, TD had underperformed its US peer group. It's recovered a lot. He's trimmed back on all his banks. Valuation, earnings, and loan growth concerns. Still a very solid bank to have in your portfolio.
TOP PICK
This is a play on TD continuing to gain market share in the US. He sees the US economy as being better than the Canadian economy, however US economy is still not going gang buster. TD has been able to win market share from the other US banks. It is still early days as far as gobbling up market share. They may have the best retail platform in Canada and are taking these best practices to the US. This opportunity is somewhat immune to the performance of the US economy. Yield = 3.8% (Analysts’ price target is $83.32)
PAST TOP PICK
(A Top Pick May 25/18, Up 4%) His largest bank holding. They beat for the quarter. It will probably go into the $80s. Probably raise the dividend later in the year.
BUY
Don't let any single stock take up more than 7% of your portfolio, so don't be afraid to trim if a stock has grown like TD has. He has no worries about TD. Q1 was shaky, but should improve in Q2. Their exposure to the stronger US economy is good. He expects dividend increases and 305% earnings growth from all the Canadian banks this year. They are trading at a discount from their 20-year PE ratio, at 10x vs. 11.5x earnings.
HOLD
His biggest of all his bank holdings. The only knock is that it is hard to see what they can do next. The yield is a little lower relative to the peer group, because the stock price has done so well.
PAST TOP PICK
(A Top Pick May 08/18, Up 4%) The stock hasn't done anything in the past year, but the dividend pays a solid 4% that continues to grow. It trades at less than 11x forward earnings, below historical averages. Canadian housing is slowing, but it won't crash. Valuations reflect these concerns, so you can buy TD at these levels.
BUY
He'd buy it tomorrow. Really well run. Trading at 11x earnings. Great franchise down south. Weakness is capital markets exposure in the States, so they may acquire a US investment bank. Yield of 4%.
PAST TOP PICK
(A Top Pick May 16/18, Up 3%) Dividends are important. Their businesses have been doing well, and earnings are up 12%, though the stock price has been flat. His return comes from the dividend. They actually incurred a loss in their last quarterly report, which was surprising, but he expects a good report later this month. You can sleep well owning this long-term.
HOLD
It hit a nice bottom recently around $68. It has nice upside potential and a decent dividend. Management quality is great and leads the way in customer satisfaction. They seem to be able to avoid tough issues.
PAST TOP PICK
(A Top Pick May 03/18, Up 9%) Q1 they missed on housing and fears of cycle ending. But on the last quarter they bumped their dividend by 10% and their capital ratios are the best. Canadian Banks are OK. This is best of breed of the Canadian banks.
PAST TOP PICK
(A Top Pick May 10/17, Up 8%) Also a top pick today. Earnings grew 10% in the past year but the share price has been flat, so the PE has gone down. Looking ahead, earnings will be higher in 10 years, so current levels are at a good price.
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