Barlow’s Research Roundup: Scotiabank analyst’s optimism about bank stocks intensifies

RBC reported record Q3 net income of C$6.024B, up 11% YoY, driven by wealth management and capital markets. TD Bank's Q3 adjusted EPS rose to C$2.77, with shares up 1.4%. Dollar General's Q2 EPS beat estimates by $0.48, with shares up 4.7%. Dollar Tree's Q2 EPS included a $1.31 tariff refund benefit, with shares up 4.58%. Burlington Stores' Q2 adjusted EPS jumped 38%, with shares up 4.2%. Best Buy raised FY27 EPS guidance to $6.70-$6.90, with shares up 2.1%. Harmony Gold's profit doubled, but sh

Royal Bank of Canada (RY-T), Toronto-Dominion Bank (TD-T), and Canadian Imperial Bank of Commerce (CM-T) reported quarterly profits exceeding analysts' estimates, signaling resilience amid trade uncertainty. RBC's profit rose 11% to $6B, TD's net income increased 38% to $4.62B, and CIBC's profit grew 15% to $2.41B. All three banks expressed confidence in Canada's economic stability despite trade tensions, with plans for expansion and strategic investments.

TD Bank Group reported 41% profit growth in its U.S. division, driven by a 50% increase in U.S. fee income. The bank's overall earnings per share were CAD $2.74, beating estimates. TD plans to open 100 new U.S. branches by 2028, despite trade tensions.

TD Bank Group reported $141M in AI-driven value, surpassing its fiscal year target of $144M. The bank aims for $361M in annual revenue uplift and cost savings from AI. CEO Raymond Chun highlighted AI's role in credit, software, and contact centers, accelerating processes and improving client experiences. TD Insurance and TD Auto Finance Canada also benefit from AI advancements, according to the company.

TD Bank Group plans to open 100 new U.S. branches by 2028, reporting a Q3 profit of $4.62 billion, up from $3.34 billion last year. Revenue reached $16.89 billion, exceeding analyst expectations. The bank is also investing in anti-money laundering efforts, with U.S. operations earning $1.07 billion in Q3, up from $760 million last year.

TD Bank Group reported Q3 2026 earnings with reported diluted EPS of $2.74, up from $1.89 YoY, and adjusted EPS of $2.77, up from $2.20. Net income rose to $4.6B from $3.3B YoY. CEO Raymond Chun highlighted strong performance in Canadian and U.S. banking, wealth management, and wholesale banking. The bank's CET1 ratio was 14.3%. TD also provided an update on its U.S. BSA/AML program remediation.