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
They have the least amount of exposure to credit among its peers. It no longer trades at a big premium. It pays the lowest dividend of the big 5 banks, but they have the biggest dividend-growth prospects. 10 years out, you'll be happy you bought this. Buy now, hold and compound dividends. (Analysts’ price target is $81.46)
HOLD
Owned it as a place holder at the bottom. Probably under-performing YTD. Probably related to what is happening with the interest rates and the yield curve. The Canadian Banks are always exposed to this short stories that come from the US. He doesn't think that the Canadian banks have great upside from here but also he doesn't think they have great downside. He thinks it is kind of dead money. He owns Royal Bank (RY-T) and Scotia Bank (BNS-T).
BUY
Add to a position? Loves it, but he just took some profits. The banks do better when rates rise and the housing market is improving. Neither is the case. The banks will sit in this range for a while. He also holds BNS for its yield and they operate in Latin America, which he likes.
BUY
After missing its first quarter, can TD still meet its 2019 target of $83? A big, long holding for him. TD is truly a North American bank, dependent on both economies. Doesn't know if TD will hit $83 this year, but if they don't, he's not worried.
BUY ON WEAKNESS
They made a really big shift after the financial crisis, at growing their US franchise which they have been very successful at. Those that have established US businesses leave you more diversified. TD has a yield of just under 4% and he would like to continue to own it.
BUY
He'd buy it now. A core holding. The 4% yield is safe and grows yearly like clockwork. It grows around 7% a year. Great governance. The fearful talk about loan losses is hogwash--ignore it.
BUY
You are not getting hurt, you are not going to do great. You are going to get your dividend and a slow grind upwards.
COMMENT
Canadian consumer debt close to an all-time high. Haven't seen the big housing downturn. Mortgages are huge business for them. If we see sustained housing decline, it will have a negative impact. Would take something major for any Canadian bank to take a hit to earnings. A major bank has never decreased its dividend, and you're not going to see it anytime soon.
HOLD
Historically it has been the best performing. They will have issues going forward in auto loans. Not a lot exposed to investment banking.
PAST TOP PICK
(A Top Pick May 25/18, Up 2%) TD is the best of the big 5 banks. It's been a tough environment for the whole group. He likes this for the US exposure.
BUY
The cons: They missed trading revenue and their wholesale statement in their latest report, though all Canadian banks did. The pros: Only 8% of their business mix is wholesale; trading is 5% of that; both those headwinds are now tailwinds. Most importantly Canadian P&C was up 9%, which is a key metric. They bumped their dividend 10%. TD's balance sheet is probably the best of this group. He see 6% EPS growth.
TOP PICK
Yielding close to 4%. Exposure to US and Canada. Safe place to park capital. Growth of close to 10% every year plus 4% dividend. (Analysts’ price target is $82.29)
PAST TOP PICK
(A Top Pick Apr 20/18, Up 10%) He likes the US exposure. Pays over 4% yield. It won't double in the coming year, but he expects 5-6% capital appreciation. He's happy to stick with it. A good entry point now.
PAST TOP PICK
(A Top Pick Mar 07/18, Up 3%) Doing okay like all the Canadian banks. He likes TD's recent 10% dividend increase. It surprised last quarter being on the downside, because their capital markets were a lot worse than the other banks'. Still likes it.
BUY
TD-T vs. CM-T. The banks this year should have an up year. He prefers TD-T. CM-T has the most exposure to Canada. They are going to do US acquisitions but those they buy will be at much higher multiples than CM-T trades at now so it will be dilutive.
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