TSE:TD

Toronto-Dominion Bank (TD.TO)

157.74
-0.29 (0.18%)
as of Jun 5, 2026, 8:00:00 pm Market Open.
2224 watching
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Investor Insights
star iconJun 5, 2026, 12:00 am

This summary was created by AI, based on 64 opinions in the last 12 months.

Toronto-Dominion Bank (TD) has demonstrated significant recovery over the past year following its past money laundering scandal. Although the bank has recorded strong earnings and benefits from a robust Canadian economy, many analysts consider its current valuation to be on the higher end, with price-to-earnings (PE) ratios reaching levels beyond historical norms. Despite the impressive stock performance, experts suggest that the valuation may now be too rich, prompting some to recommend trimming positions or waiting for a more favorable buying opportunity. While TD maintains a strong position within the Canadian banking sector, growth prospects remain constrained, particularly in the U.S. market due to regulatory issues. Overall, while the outlook for TD remains positive, caution is advised due to potentially high valuations and limited growth avenues.

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Consensus
Hold
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Valuation
Overvalued
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RY, RY
BUY
Skated all the sub prime. Have a little bit of US exposure through Commerce Bank, which is retail exposure. Had a long enough ramp up before the closure so were able to get them to clean up any problems before they actually brought it in.
HOLD
(Market Call Minute.) Probably the best looking Canadian bank and if you were going to buy one this would be it.
BUY
Has acquired the US Commerce Bankcorp. Important questions are; is it a good acquisition, can they integrate it and is it a good foray into the US. She believes the answers are yes. Likes their 2-prong US strategy with the discount brokerage operation and now a more traditional bank.
HOLD
(Market Call Minute.) Some of the other banks are more attractively priced.
PAST TOP PICK
(A Top Pick Apr 2/07. Down 5%.) Chose it because it had no US exposure and this is why he still likes it. Still a Hold. Dividend is good.
COMMENT
(Market Call Minute.) Not a big fan of Canadian banks right now. If you have to own one, this is not a bad one.
TOP PICK
Has done a great job of managing its business for a number of years. Missed the ABCP problems and haven't been exposed to CDO’s in any meaningful way. Indicates good management. Trades at a bit of a premium to the average. If you are worried about volatility, this is a safer place.
DON'T BUY
Bank of Nova Scotia (BNS-T), Royal Bank (RY-T) and Toronto Dominion (TD-T) are probably the most expensive banks in North America and possibly even the European banks. The upside in his model price is in single digits. The most upside to his model prices are National Bank (NA-T), CIBC (CM-T) and Bank of Montreal (BMO-T).
WAIT
Has suffered because on its exposure in the U.S. The management is some of the best in the banking industry. TD is approaching a good price and it’s a good company. Prefers BMO, it can better deal with this environment, pays you while you’re waiting.
TOP PICK
Made several acquisitions in the U.S. Want to grow their retail franchise. Have been very smart. Getting it at a decent price, at a decent multiple with a decent yield.
TRADE
Thinks this is the middle of the pack, have stronger management. Thinks that the acquisitions in the US have been ill timed.
DON'T BUY
Seems to be weathering well. This might be the first one to go. Don’t try to start bargain hunting yet.
BUY
(Market Call Minute.) Likes this bank.
TOP PICK
Likes their strategy of focusing on the retail market. Best in class. Highest return on equity. With the Commerce Bancorp (CBH-N) acquisition it will make the bank really focus on its retail operations. Trades at 2.2X book and is the only bank that increased its dividend this year.
HOLD
(Market Call Minute.) The only bank that raised their dividend this quarter. Results were better than the other banks but to have a large and growing exposure to the northeast US.
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