TSE:TD

Toronto-Dominion Bank (TD.TO)

175.00
+0.96 (0.55%)
as of Nov 2, 2026, 9:00:00 pm Market Closed.
2219 watching
0
WAIT
Probably best run retail bank in Canada, one of top 20 in US. Thinks there may be a better entry point. Great company he'd like to own. Lots of respect for management.
BUY
Why is it falling? Has long owned it and still likes it. Why falling? Becuase banks are a leveraged play on the Canadian economy. We are going into decelerated economic growth after it was speeding it. No, this is not heading to recession, just slowing down. Earnings growth is decreasing. But don't sell it. The dividend grows 7% annually. You won't make money in bank stocks every year, but add the dividend growth and dividend.
PAST TOP PICK
(A Top Pick Sep 07/17, Up 16%) Loves their US operations, which are really starting to pay off. Sold off recently along with the rest. Canadian banks can compete successfully in the US.
COMMENT
TD is probably the least value priced Canadian bank right now. You are paying for first-mover advantage in terms of the success they've had in the U.S on the banking side. Considerably lower yield compared to the other Canadian banks. Not a value play, but hard to argue about how well they are executing. It should be one of the names you own, but if you're looking for a bargain, TD would not be the name.
BUY
He owns TD and it will report tomorrow. This along with Royal Bank are the two premium Canadian banks. He expects earnings in TD to be as strong as that for Royal relatively speaking. Yield 3.5%.
TOP PICK
They like their American exposure. Well-run, trading at 10x earnings with a 3.7% dividend. Great capital ratios. Selling cheap because of fears of weakness in Canadian housing and oil--which he doesn't buy. As for housing, there's still immmigration coming to Canadian cities with little housing supply being built. (Analysts’ price target is $84.99)
PAST TOP PICK
(A Top Pick Sep 13/17, Up 11%) 55% of their revenue is coming from the US. Has owned this since 2004 when started his firm. He would be surprised if they ever get out of TD. It is cheap-ish relatively to where it has historically been valued.
BUY
Canadian banks in general and TD? Credit quality has been pristine, but will it last. NIM (net interest margin) has picked up. The banks can still grow at 6% as they trade at a reasonable 10.1x peers. TD has sector-based capital with strong core deposits with a strong US presence. Sees 7% growth, but are trading at a half-point premium vs. peers. He also likes Royal and BMO.
BUY
His largest holding among Canadian banks. A class act. Well-managed. Well-positioned in the U.S. They just need to find more lending opportunities. They will continue to do very well.
TOP PICK
They've done better than their peers. Likes their 30% exposure to the U.S. where the economy is doing better than ours. Trades at a discount to historical valuations at a current 11x. Pays a 3.7% yield. Earnings will grow 15% . TD's payout ratio is 42%. Dividends will increase in mid-high-single digits in coming years. Seasonally, banks do well this quarter. (Analysts’ price target is $85.67)
BUY
He is bullish on banks. He sees it as a good opportunity to buy. It was a screaming technical buy last week. They will generate shareholder value. If you buy TD, you are buying for the US exposure. Can’t really go wrong with any of the Canadian banks.
BUY
He’s bullish on all the Canadian banks. TD has more US exposure, as do Royal and BMO. Scotia is international, CIBC is domestic. With TD, you get an American bank with the dividend tax credit. Canadian banks should be a core holding, and they all raised the dividend this year.
HOLD
Great franchise. Canadian Banks in general did well during the Financial Crisis so naturally they trade at a premium. Good exposure to the US. He feels there are more value in other places like European Financials.
BUY ON WEAKNESS
The banks are coming down, including TD. He targets $66-68 on the downside. That said, this bank is superbly run and on the way to becoming Canada's biggest bank. Excellent customer service.
PAST TOP PICK
(A Top Pick Aug 21/18, Down 7%) The market is under pressure and he is looking for it to turn around. He continues to recommend it.
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