TD Looks 50.4% Overvalued on GF Value™

TD Bank reported strong Q2 2024 results with adjusted net income up 21% YoY to $4.7B and EPS up 26% to $2.77. All major segments grew, with wholesale banking net income up 87%. Management highlighted trade uncertainty and ongoing US regulatory compliance costs of $550M. The CET1 ratio declined slightly to 14.3%.

Canada’s Big 6 banks all beat Q3 earnings estimates, with EPS surprises ranging from +5.9% to +13.1%. Despite the beats, three banks saw stock declines, while Scotiabank surged. Analysts have raised EPS estimates, and tailwinds include stabilizing margins and strong capital markets. Forward growth estimates range from +7.7% to +12.4%.

TD Bank Group reported Q3 2026 results with Wholesale Banking net income up 87% YoY to C$743M, revenue up 25% to record levels. Companywide net income rose 38% to C$4.615B, adjusted net income up 21% to C$4.671B. Canadian and U.S. Banking, Wealth Management, and Insurance also showed growth. ROE for Wholesale Banking was 16.7%, U.S. Banking at 10.2%.

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.