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Toronto Dominion (TD) (TD-T)
1663 watching
TSE:TD
91.42
0.65
(0.72%) 1d
Financials
Technical Analysis
Buy, Sell or Hold?
Jan 27, 2023, 9:00 pm
0
HOLD
Canadian banks are in a tough space right now, with slowing economy and housing. Along with RY, gold standard of banks in Canada, and it trades at a valuation premium for that. It's always that tradeoff, valuation vs. growth & quality. If you're a long-term investor, can't go wrong.
banks
$89.615
No
BUY
Results were fabulous. Stick with the banks that continue to knock it out of the park. Happy to continue buying. He doesn't foresee a really bad recession in Canada in 2023. Banks can offset a lot of their mortgages. They do have exposure, but it's not as huge as you think. Live and die with wealth management and investment banking operations, so they need the economy to improve.
banks
PAST TOP PICK
(A Top Pick Dec 24/21, Down 5%) He likes the insurance companies right now, as they have pricing power. Banks in US and Canada will struggle in the next year as interest rates rise. Loan loss provisions are already going up, job layoffs. Yield over 4%, and grows over 10% a year.
banks
HOLD
He still owns. Banking industry is in very good shape in this country. Great dividend yield, trading at reasonable book value. Trouble is that net interest income is being offset by investment banking and such that are doing poorly. Longer term, will do well. Lots of capital to increase dividends or buy back shares. He's comfortable owning at these levels.
banks
TOP PICK
Stockchase Research Editor: Michael O'Reilly We again reiterate TD as a TOP PICK. During economic uncertainty Canadian chartered banks are a safe haven. Recently reported earnings again beat expectations. Revenue of $15.5 billion in the quarter was up 42%, allowing cash reserves to grow substantially while debt is retired and shares to be bought back. The dividend was just raised 7%. We recommend trailing up the stop loss (from $72.50) to $79.50, looking to achieve $100 -- over 14% upside. Yield 4.3% (Analysts’ price target is $100.21)
banks
COMMENT
Rising interest rates should be good for banks but they are also dealing with more defaults. There is some recent support but if it breaks below $80, sell.
banks
BUY
Good entry point is right now. On cusp of closing a transformational acquisition of First Horizons. Increases market share. Now the 6th largest bank in the US. US banking is very net-interest-margin sensitive, interest rates are rising, making lots of money. Flipside is US banking is more credit-risky, but it's adequately provisioned. Capital markets round out return. Low double-digit returns for decades, likely to continue.
banks
HOLD
This is a good one to hold and is one of the cheaper banks. It has good growth in the U.S. There is margin expansion with rising interest rates and it has raised its dividend.
banks
BUY
High quality, second largest in Canada, top 25 in the world. Well run, likes it. Financial metrics are favourable. He'd buy.
banks
BUY
TD vs. CM for the long term? TD. CM has a lower valuation, but TD has everything going for it. CM is struggling, and he's wary of that. Go with the better quality ones now. His firm looks at valuation, not fundamentals. When it's time to buy value, he'd look at CM.
banks
WAIT
TD vs. MFC vs. SLF All financials got beaten up. Issue with banks is potential loan losses, and if it's a deep recession, loan losses can get bigger. A lot of financials can be a black box, and you don't see the damage until it's too late. Impressed by what MFC has done over time, nice dividend yield. All financials are starting to look interesting. Banks look attractive valuation-wise, but he'd wait.
banks
BUY
The banks are an indicator of markets. Capital markets activity (a lot less M&A) has impacted banks. However, net interest income is positive. On balance, banks have a decent profit profile. They hold a lot of capital to pull many levers like buy back shares. He is quite positive all banks. His favourites are BNS and TD, followed by Royal. CIBC has a weaker growth profile.
banks
HOLD
Short-term risks to banks. Integration risks with acquisitions. Dividend safe, growing. Don't sell just because stock's sold off. Valuation has checked back, with possibly more to go. Be patient deploying capital. If you own it, hold, and perhaps diversify elsewhere. See his Top Picks.
banks
HOLD
TD has expanded its NIM in the US, so last quarter they benefited the most out of all the banks. Best in class. He's lightened up on financials. Valuations are compelling, but margin and loan growth will be stagnant. Banks don't do well in recessions. No tailwinds right now.
banks
PAST TOP PICK
(A Top Pick Sep 14/21, Up 11%) The valuation is below historic averages. They will acquire First Horizon bank in the U.S. southeast which will expand TD's presence there. As interest rates rise along with loan growth, TD's net interest margin will expand. They also bought Cowen to expand in capital markets. They still have a strong balance sheet. The dividend, the smallest among the big 5 banks, will continue to increase.
banks
Toronto Dominion (TD)(TD-T) Rating
Ranking : 5 out of 5
Bullish - Buy Signals / Votes : 29
Neutral - Hold Signals / Votes : 10
Bearish - Sell Signals / Votes : 2
Total Signals / Votes : 41
Toronto Dominion (TD)(TD-T) Frequently Asked Questions
What is Toronto Dominion (TD) stock symbol?
Toronto Dominion (TD) is a Canadian stock, trading under the symbol TD-T on the Toronto Stock Exchange (TD-CT). It is usually referred to as TSX:TD or TD-T
Is Toronto Dominion (TD) a buy or a sell?
In the last year, 41 stock analysts published opinions about TD-T. 29 analysts recommended to BUY the stock. 2 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Toronto Dominion (TD).
Is Toronto Dominion (TD) a good investment or a top pick?
Toronto Dominion (TD) was recommended as a Top Pick by on . Read the latest stock experts ratings for Toronto Dominion (TD).
Why is Toronto Dominion (TD) stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
Is Toronto Dominion (TD) worth watching?
41 stock analysts on Stockchase covered Toronto Dominion (TD) In the last year. It is a trending stock that is worth watching.
What is Toronto Dominion (TD) stock price?
On 2023-01-27, Toronto Dominion (TD) (TD-T) stock closed at a price of $91.42.
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