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Toronto-Dominion: Impressive Quarterly Result

Jan. 04, 2022 3:43 AM ETThe Toronto-Dominion Bank (TD), TD:CA26 Comments
Cappuccino Finance profile picture
Cappuccino Finance


  • Toronto-Dominion handily beat both revenue and EPS expectations for 4Q.
  • Also, they raised their dividend by 13% and announced a 50 M share buyback (~$7 B).
  • Their balance sheet strength remains at the top of the industry.
  • I expect 10-15% increase in share price appreciation along with 3% dividend yield.

TD (Toronto-Dominion Bank) office in downtown financial district in Toronto, Canada.

JHVEPhoto/iStock Editorial via Getty Images

Investment Thesis

Toronto-Dominion Bank (NYSE:TD) is the largest bank in Canada and top 10 largest in North America. They are considered the safest Bank in North America with $1.1 T deposit and 126% liquidity coverage ratio. Toronto-Dominion has

This article was written by

Cappuccino Finance profile picture
Visit me at Cappuccino Finance, I share my top picks (Value, Growth, Dividend & Growth), market outlook, and interesting ideas from super investors, based on my 12 years of experience and knowledge in stock investment and in real estate. I, Justin J. Lee, believe in fundamental analysis and disciplined market research. I have strong quant background with a Ph.D. (University of California, Santa Barbara) in model predictive control and an MBA (Jones School of Business, Rice University). My primary focus is to identify 1) small cap companies with strong fundamentals and growth potential, 2) large cap companies going through temporary set-backs, and 3) stable companies with solid dividend yields and growth potential.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of TD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (26)

Cappuccino Finance profile picture
Do you like dividend stocks? Please check out my top picks on dividend stocks on YouTube! https://youtu.be/vl-y92UNUHk
Littlebeef2 profile picture
It is shameful that TD has chosen to steal people’s money. Yes, they have stolen the Truckers money from their account. Will they steal YOUR money one day?
You are talking about the Canadian dictator. The dictator also seized a bunch of heavy duty tow trucks from small business. The government has monopoly on punishment, and violence. Small tow truck companies can't stand up to the dictator, and neither can large corporations like TD. The dictator will simply throw them all in jail if they don't comply.
Starbucks Analyst profile picture
I have never been treated better as a banking customer than when I was a member of TD. The employees that work their are very welcoming and positive...very reminiscent of Chick Fil A. Contrast with BoA which would short staff their locations (creating LONG waits) and routinely close their retail locations at 4PM on weekdays. How disrespectful. They are literally saying we dont care about you if you are working class with a modest income. Unfortunately, I moved and can no longer bank at a local TD.
SenBiden profile picture
Recently took some profits on CM and started a position in TD adding on pullbacks. So far so good. Will watch more closely and add more TD after reading this. Thanks.
Cappuccino Finance profile picture
@SenBiden Long TD. I have a feeling that your strategy will work out very well. :)
Dividend Latitude profile picture
Thanks for the article. I didn't know they announced the raise already. Long 800 tax-sheltered shares.
Very nice article; TD is certainly one of the safest banks in the world. All of the Canadian Big5 are excellent but TD is the best.
Long Time Running profile picture
Long TD, RY and BNS a strong and stable money earner in my portfolio. I have not ever taken profits on these guys rather let them grow and compound.
Cappuccino Finance profile picture
@Long Time Running completely agree! Long TD and RY!
Go595lf profile picture
Thanks Justin for a good analysis and good research and statistics on TD. I am a firm believer in the sound financial health of the Canadian banks and your article confirm my believe.
I do not have the same confidence regarding the USA banks . I think the USA Banks are quite conservative regarding dividends
Cappuccino Finance profile picture
@Go595lf Yeah, it seems like Canadian Big banks are financially healthier than American counter parts. Need to study little more to figure out why. I’m guessing one of the reasons is stricter regulation.
@Cappuccino Finance Canadian banks are a oiligopoly. Canadian system trades competitive service for stability.
mlunacargochernoff profile picture
Yes, TD is my biggest holding. It's also my bank, so I have good understanding of how they run. SWAN stock for sure, thank you for the analysis.
Cappuccino Finance profile picture
@mlunacargochernoff Thank you! Seems like your money is in good hand. :) Happy new year.
I've always liked the Canadian banks; conservative regulatory structure, good balance sheets, good dividends. I'm long TD, BMO, and BNS. In any case, TD is my oldest and largest holding of the group.

Best of luck to all.
Cappuccino Finance profile picture
@chicagotim1 Thank you and Happy new year! Long TD!
thirdcamper profile picture
@chicagotim1 Those are my three Canadian banks too.
windyhill profile picture
Good Article Justin, Thank you for writing and sharing your views on T.D.
Bertin11 profile picture
Check your sources they are # 2 in Canada after Royal Bank in market cap. Nevertheless a great bank
Cappuccino Finance profile picture
@Bertin11 Thank you. It was SP500 Global. They must have used different metric than market cap. You are right, RY is the largest bank in the Canada by market cap, and I will be writing about them in a couple of week. Happy New Year! Long TD.
Excellent article! Thank You!
Cappuccino Finance profile picture
@Hopeful17 Thank you! Happy new year!
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