TD Bank Beats Analysts' Forecasts

Nov.30.07 | About: Toronto-Dominion Bank (TD)

Toronto-Dominion Bank (NYSE:TD) posted fourth quarter operating earnings of C$1.40 per share compared to C$1.20 in the same period a year earlier. These results beat Blackmont Capital’s forecast by C$0.05, and the consensus by C$0.02. Meanwhile, its revenue of C$3.6-billion was in-line with the firm’s estimate.

Analyst Brad Smith, who maintained his “hold” recommendation, and C$77 price target on TD shares following the news, said the bank’s domestic result were steady (earnings up 14% year-over-year), and revenue growth came in at 10%.

“Market share in domestic personal loans and deposits continued to erode as did small business lending share,” Mr. Smith told clients in a note.