- TD Bank reported adjusted EPS of C$1.94, missing estimates of C$2.08.
- Provision for credit losses was C$599 million, lower than the estimated C$708.8 million.
- Common equity Tier 1 ratio was 15.3%, compared to an estimate of 15.5%.
- Efficiency ratio was 56.5%, with an adjusted efficiency ratio of 53.4%.
- Net income was C$3.35 billion, with Canadian personal and commercial net income at C$1.63 billion, US retail net income at C$1.41 billion, wealth management & insurance net income at C$563 million, and wholesale banking net income at C$150 million.
- Revenue was C$12.37 billion, exceeding estimates of C$12.21 billion.
- Book value per share was C$57.04, higher than the estimated C$55.97.
- Analysts’ ratings for TD Bank are 13 buys, 5 holds, and 1 sell.
- Due to the termination of the First Horizon merger agreement and a deterioration in the macroeconomic environment, the Bank does not expect to meet its medium-term adjusted EPS growth target range of 7-10%.
Toronto Dominion Bank on Smartkarma
The independent investment research network Smartkarma has recently published research on Toronto Dominion Bank from Baptista Research. The report, titled “Toronto Dominion Bank: Initiation of Coverage – The Cowen Acquisition & Other Drivers“, gave a ‘Buy’ rating and highlighted the bank’s strong performance in Q1. The report noted that the bank had delivered an all-around beat, making it a sound investment option.
The research report from Baptista Research is just one of many on Smartkarma providing insights into Toronto Dominion Bank. Smartkarma provides a platform for top independent analysts to publish their research on companies like Toronto Dominion Bank, giving investors access to a range of perspectives and analysis.
A look at Toronto Dominion Bank‘s Smart Scores
Toronto Dominion Bank (TD) is a leading financial services provider with operations in Canada and overseas. According to Smartkarma Smart Scores, TD has strong value and momentum, with a score of 4 and 3 respectively. TD’s dividend score is also relatively strong at 3, while its resilience and growth scores are lower at 2 and 3 respectively. This reflects the bank’s commitment to providing reliable services and long-term growth potential.
Overall, TD has a strong outlook for the future, with a wide range of banking and advisory services, and a commitment to providing long-term value to its customers. The bank is well-positioned to take advantage of any changes in the market, and to continue to provide reliable services and long-term growth potential for its customers.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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