TD.TO - The Toronto-Dominion Bank

Toronto - Toronto Delayed Price. Currency in CAD
60.65
+0.05 (+0.08%)
At close: 4:21PM EDT
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close60.60
Open60.61
Bid60.69 x 0
Ask60.71 x 0
Day's Range60.24 - 60.78
52 Week Range49.01 - 77.96
Volume2,531,216
Avg. Volume5,573,654
Market Cap109.376B
Beta (5Y Monthly)0.69
PE Ratio (TTM)10.63
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield3.16 (5.21%)
Ex-Dividend DateJul 09, 2020
1y Target EstN/A
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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    • Reuters

      Canada's biggest banks join boycott of Facebook platforms

      Canada's biggest lenders confirmed on Friday they had joined a widespread boycott of Facebook Inc begun by U.S. civil rights groups seeking to pressure the world's largest social media platform to take concrete steps to block hate speech. More than 400 brands have pulled advertising on Facebook in response to the "Stop Hate for Profit" campaign, begun after the death of George Floyd, a Black man who died in police custody in Minneapolis on May 25. Canadian lenders Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Bank of Montreal, National Bank of Canada and Canadian Imperial Bank of Commerce all said they will pause advertising on Facebook platforms in July.

    • Thomson Reuters StreetEvents

      Edited Transcript of TD.TO earnings conference call or presentation 28-May-20 5:30pm GMT

      Q2 2020 Toronto-Dominion Bank Earnings Call

    • Signature Select Canadian Fund's Top 5 Buys
      GuruFocus.com

      Signature Select Canadian Fund's Top 5 Buys

      Canadian fund’s top buy from October 2019 to March 2020 is a Taiwanese semiconductor company Continue reading...

    • Moody's

      Western Asset Municipal Partners Fund Inc -- Moody's affirms P-1 ratings of Western Asset Closed-end Funds

      Moody's Investors Service, ("Moody's") has affirmed the Prime-1 ratings of the Variable Rate Demand Preferred shares (VRDP) issued by Western Asset Managed Municipals Fund Inc. (MMU), Western Asset Municipal Partners Fund Inc (MNP), Western Asset Intermediate Municipal Fund Inc. (SBI). The affirmation of the short-term ratings reflects the funds' change in VRDP liquidity provider to TD Bank, N.A from Citibank, N.A. which does not change our expectation of timely repayment of the liquidation preference of the VRDPs in the event of an optional or mandatory tender.

    • Toronto-Dominion Bank's(TSE:TD) Share Price Is Down 21% Over The Past Year.
      Simply Wall St.

      Toronto-Dominion Bank's(TSE:TD) Share Price Is Down 21% Over The Past Year.

      It's easy to match the overall market return by buying an index fund. Active investors aim to buy stocks that vastly...

    • Hedge Funds Are Betting On The Toronto-Dominion Bank (TD)
      Insider Monkey

      Hedge Funds Are Betting On The Toronto-Dominion Bank (TD)

      In this article we will take a look at whether hedge funds think The Toronto-Dominion Bank (NYSE:TD) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips […]

    • Day Traders Will Have Fun Until They Get Wiped Out
      Bloomberg

      Day Traders Will Have Fun Until They Get Wiped Out

      (Bloomberg Opinion) -- One time when I was sitting in my college dormitory, I heard a whoop of joy from down the hall. My dormmate announced that he had just made $500,000 trading in the stock market, after having invested only a few thousand dollars. When I asked him how he did it, he grinned and simply said: “Call options.” I spent the rest of the day reading about how this marvelous financial instrument could be used to make a fortune in a day with just a small initial stake.Of course, my lucky dormmate doubled down on his investment and ended up losing most of his money when the dot-com bubble burst a couple of months later.This saga illustrates the danger of day trading, especially with leveraged instruments such as options. After the 2000 tech bust, day trading declined, but the coronavirus pandemic seems to be driving something of a renaissance. Goldman Sachs Investment Research reports that the percent of trading volume in the stock and option markets from small trades has increased a lot since January, while discount brokerage TD Ameritrade reports that visits to its website teaching people how to trade stocks have nearly quadrupled. Robinhood, a trading app that offers zero-commission trades and a simple, video-game-style interface, had 3 million new accounts opened in the first quarter. Half of its new customers are first-time investors. Many online communities are filled with the standard elements of day-trader culture -- stories of fabulous fortunes gained, hot tips, trading systems and theories and so on.Coronavirus probably isn’t the only reason for the boom in day trading. Brokers realized that they could offer zero-commission trades and make up for it with interest earned  by lending out their cash balances. Mobile apps made trading easier and more fun than ever, and allowed new traders to start off with small amounts of cash. A new generation of speculators has no painful memory of the dot-com bust.But whatever the reasons, the new day trading mania is not likely to result in a happier outcome than the last one. There are many theoretical reasons and a wealth of empirical evidence to suggest that most day traders are wasting their money.One of the most important concepts in finance -- and yet seemingly one of the hardest to understand -- is that there are two sides to every trade. For a day trader to make money, someone else has to lose money. In the most optimistic case, the loser could be a normal person who needs to put money in or take money out of their retirement account, and who therefore doesn’t worry much about the price at which they buy or sell. But most trades are not this. Instead, day traders are usually buying and selling either from each other, or from algorithms programmed by skilled, experienced financial professionals. If it’s the former, their trading is a zero-sum game. If it’s the latter, human day traders are very likely to lose because the people who program trading algorithms are typically very smart, and their computers can spot market-moving developments faster than people can. This is why professional human traders have been increasingly driven out of the market.A related problem is the idea of slippage. Day traders might think that because they’re paying zero commission, their trades are free. But when a day trader places an order, a trading algorithm somewhere quickly figures out that they want to buy or sell, and raises or lowers the price accordingly, so that the day trader gets a less favorable price.Another reason day trading is a bad idea is that people often fail to understand when they’re winning and losing. If the market as a whole goes up (as it has recently), many stocks will be winners. That can make a day trader feel like they won, even if they would have made as much or more money if they had simply bought an index fund and held onto it. This is especially true right now, when correlations between stocks are very high -- in this case, meaning many stocks are rising or falling together.Finally, day traders often don’t understand the amount of risk they’re taking. Call options of the type my college dormmate bought, for example, are a form of leverage -- you might make fabulous riches, but you’re very likely to lose your money. One young novice investor tragically committed suicide after seeing his account generate large losses; though he probably misread the account statement, this incident drives home the point that investors may not be prepared for how much money they can lose with the trades they’re making.A large amount of empirical evidence confirms that most day traders lose money. A very large 2004 study of Taiwanese day traders, for example, found that more than 80% lost money. A tiny number -- about 0.03% -- earned consistently large profits, but the odds of possessing this kind of skill are slim. Most studies of day traders in the U.S. and Finland yield similar results -- a few traders are consistently good, but most lose out.Day trading might therefore be a fun way of gambling for those who are locked inside waiting out the pandemic. But if regular Americans start betting large amounts of their money on individual stocks and options, they’re courting financial ruin. If you want to day trade, the best thing to do is to bet only a small percent of your money to learn whether you’re one of the few who has the skill to beat the market. Day trading should be treated like an expensive video game, not like a way of getting rich quick.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Noah Smith is a Bloomberg Opinion columnist. He was an assistant professor of finance at Stony Brook University, and he blogs at Noahpinion.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Reuters

      Canadian banks end extra pandemic pay as infections ease

      Most of Canada's biggest banks are ending their extra payments to employees who continued working in public during COVID-19 pandemic lockdowns, as the country's daily infection tallies decline. The banks' moves follow grocery chains Metro Inc, Loblaw Companies and Sobeys Inc in ending the additional work incentives, which were put in place when many other Canadian workers began working from home to limit their risk. The rollback of extra temporary pay for grocery store employees prompted a Canadian parliamentary committee on Thursday to summon major retailers to explain their decisions.

    • Moody's

      Moody's Fully Supported Municipal & IRB Deals

      This publication does not announce a credit rating action. For any credit ratings referenced in this publication, please see the ratings tab on the issuer/entity page on www.moodys.com for the most updated credit rating action information and rating history.

    • Moody's

      Custodial Receipts (TD Bank), Custodial Receipts, Series 2020-11 -- Moody's assigns enhanced Aa1 to Custodial Receipts (TD Bank), Series 2020-11A

      Moody's Investors Service (Moody's) has assigned a Aa1 enhanced rating to Custodial Receipts (TD Bank), Custodial Receipts, Series 2020-11A evidencing beneficial ownership of State of Ohio, acting by and through the Ohio Higher Educational Facility Commission, Hospital Revenue Bonds, (University Hospitals Health System, Inc.) Series 2020A (Fixed Interest Rate) (the Bonds). The rating is based upon joint default analysis (JDA), which reflects Moody's approach to rating jointly supported transactions.

    • Bloomberg

      Don't Blame the Fed for the Robinhood Trading Blitz

      (Bloomberg Opinion) -- Optimism is plentiful in the various online forums such as Reddit’s r/wallstreetbets where the fast-growing number of small investors discuss stocks. There you’ll find little to no discussion of betting against equities —  even those of bankrupt companies — following the S&P 500 Index’s remarkable 39% gain from its low this year in late March. The head cheerleader for these legions of day traders is Dave Portnoy, the founder of the website Barstool Sports, who has attracted a wide following by live-streaming his trading exploits.Why should anyone care about a bunch of market neophytes opening up accounts with the Robinhood investing app to trade stocks? Because the last time we saw such a frenzy of retail participation was during the dot-com mania 20 years ago, which ended in a spectacular bust. I’m happy that people have taken an interest in financial markets, just not to the degree that we have seen lately.Among professional investors, the proximate cause of this speculation is the Federal Reserve, which has provided an astounding amount of liquidity to support the economy and the functioning of financial markets, slashed its benchmark interest rate to zero, pledged unlimited quantitative easing and to buy a range of risky assets. Its balance sheet assets have soared from $4.16 trillion in late February to $7.17 trillion as of last week.The Fed may be a convenient scapegoat, but the real villains are the discount brokers, which cut their trading commissions to zero last year. Millennial-focused Robinhood saw 3 million new accounts opened in the first quarter alone. Average trading volume at E-Trade and TD Ameritrade combined has gone from about 1 million trades per day in 2018 to 4 million today, according to Jason Goepfert, the president and chief executive officer at SentimenTrader, an independent investment research firm dedicated to the application of mass psychology to the financial markets.Basic economics teaches that the demand curve slopes downward. If something is cheap or free, people will demand more of it. To be sure, eliminating commissions wasn’t part of a larger strategy to get people to trade more; it was simply a matter of market forces and capitalism driving prices lower. But it has had catastrophic effects, luring millions of unsophisticated people into the stock market, where they will most likely lose money that they can’t afford to lose.Commissions actually only ever represented a small part of a discount brokerage’s revenue, something less than 20%, according to various studies. The bulk of their revenue, or about 60%, comes from net interest income, which is when they take their cash balances and reinvest them in low-risk securities that yield a bit more. The rest comes from securities lending and payment for order flow, which his how trades are routed to electronic market-makers. We have learned over the years that it can be very profitable to bet against retail trades, and firms that specialize in making markets have been willing to pay handsomely for access to those trades. Out of all the discount brokers, Robinhood receives the largest portion of its revenue from payment from order flow, or almost 10%.A lot of people like to trot out the tired argument that reduced fees are good for investors. But what the recent episode shows is that higher commissions are actually better in that they reduce trading activity and promote buy-and-hold strategies that tend to outperform in the long term. High transactions costs are not the enemy, because they nudge investors towards optimal behavior.Unfortunately, there is no easy remedy. It would be lunacy to pass legislation that would force brokerages to increase commissions or enforce any other top-down solution that would bar millions of unsophisticated investors from being sucked into the stock market. But if this ends badly for the newcomers -- and it almost certainly will -- it will result in even more millions of people becoming disenchanted with not only the stock market, but possibly even capitalism.To be clear, it’s not bad that the stock market has once again captured the imagination of the broader investing public. What is so disconcerting is that people are trying to get rich fast, rather than through a methodical strategy. The financial Darwinism of the market eventually sorts this out, but the consequences—especially in this political environment, where capitalism is already on shaky ground—could be catastrophic.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Jared Dillian is the editor and publisher of The Daily Dirtnap, investment strategist at Mauldin Economics, and the author of "Street Freak" and "All the Evil of This World." He may have a stake in the areas he writes about.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Ever Increasing U.S. Oil Inventories Overshadow Demand Optimism
      Bloomberg

      Ever Increasing U.S. Oil Inventories Overshadow Demand Optimism

      (Bloomberg) -- Oil slid after U.S. petroleum inventories climbed to a record for the second week in a row, more than offsetting signs of a recovery in fuel demand.Gasoline and distillate inventories fell last week, according to a report from the Energy Information Administration, reflecting a slight pick-up in demand during the summer driving season with coronavirus-led lockdowns easing in some parts of the U.S. Stubbornly high crude inventories still threaten to cap crude’s rally from historic lows in April.“The distillate draw is a clear sign of the reopening of the economy and transportation returning,” said Rob Thummel, portfolio manager at Tortoise. “We still need to see inventories come down. That’ll be the catalyst for oil prices to move higher.”In a note on Wednesday, Toronto Dominion Bank’s commodity strategist head Bart Melek said “a sustained re-balancing will require ongoing demand growth, which could be challenged by waves of new infections across much of southern USA.”Earlier in the day, OPEC predicted that fuel demand will remain “under pressure” during the second half of the year because of the ongoing economic fallout from the coronavirus.Saudi Arabia, Russia and other members of the OPEC+ coalition are due to hold an online meeting on Thursday to review the impact of the biggest ever production cuts announced.The EIA report showed that U.S. crude production fell by 600,000 barrels a day to 10.5 million, the lowest since 2018. While that would appear quite bullish, last week’s data coincided with the passage of Tropical Storm Cristobal, which forced some producers to shut output in the Gulf of Mexico.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

    • Benzinga

      Price Over Earnings Overview: The Toronto-Dominion Bank

      Right now, The Toronto-Dominion Bank Inc. (NYSE: TD) share price is at $45.54, after a 1.36% drop. Over the past month, the stock went up by 11.32%, but over the past year, it actually fell by 21.72%. With questionable short-term performance like this, and great long-term performance, long-term shareholders might want to start looking into the company's price-to-earnings ratio.The stock is currently higher from its 52 week low by 34.97%. Assuming that all other factors are held constant, this could present itself as an opportunity for investors trying to diversify their portfolio with Diversified Banks stocks, and capitalize on the lower share price observed over the year.The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E indicates that shareholders do not expect the stock to perform better in the future, and that the company is probably undervalued. It shows that shareholders are less than willing to pay a high share price, because they do not expect the company to exhibit growth, in terms of future earnings.Most often, an industry will prevail in a particular phase of a business cycle, than other industries.Compared to the aggregate P/E ratio of the 17.23 in the Diversified Banks industry, The Toronto-Dominion Bank Inc. has a lower P/E ratio of 11.05. Shareholders might be inclined to think that they might perform worse than its industry peers. It's also possible that the stock is undervalued.price to earnings ratio is not always a great indicator of the company's performance. Depending on the earnings makeup of a company, investors can become unable to attain key insights from trailing earnings.See more from Benzinga * P/E Ratio Insights for Bank of New York Mellon * A Look Into Visa's Price Over Earnings * A Peek Into Canadian Imperial Bank's Price Over Earnings(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

    • Moody's

      Custodial Receipts (TD Bank), Custodial Receipts, Series 2020-9 -- Moody's assigns enhanced Aa1 to Custodial Receipts (TD Bank), Series 2020-9A&B

      Moody's Investors Service (Moody's) has assigned a Aa1 enhanced rating to Custodial Receipts (TD Bank), Custodial Receipts, Series 2020-9A&B evidencing beneficial ownership of Kentucky Economic Development Finance Authority Louisville Arena Project Refunding Revenue Bonds, Series 2017A (Louisville Arena Authority, Inc.) (the Bonds). The rating is based upon joint default analysis (JDA), which reflects Moody's approach to rating jointly supported transactions.

    • Moody's

      Massachusetts Department of Transportation Metropolitan Highway System, Revenue Bonds (Senior) Variable Rate Demand Obligation 2010, Series A-2, $107.665MM -- Moody's upgrades to Aa1 LOC-backed ratings of Massachusetts Department of Transportation Revenue Bonds Series 2010 A-2; VMIG 1 affirmed.

      Rating Action: Moody's upgrades to Aa1 LOC-backed ratings of Massachusetts Department of Transportation Revenue Bonds Series 2010 A-2; VMIG 1 affirmed. New York, June 08, 2020 -- Moody's Investors Service (Moody's) has upgraded to Aa1 from Aa2 and affirmed the VMIG 1 letter of credit (LOC)- backed ratings of Massachusetts Department of Transportation (MassDOT) Metropolitan Highway System Revenue Bonds (Senior) Variable Rate Demand Obligations, 2010 Series A-2 (the Bonds) in connection with the issuance of a substitute LOC provided by TD Bank, N.A. (the Bank).

    • Moody's

      South Carolina Public Service Authority -- Moody's assigns enhanced Aa1 to Custodial Receipts (TD Bank), Series 2020-7B & Series 2020-8A

      Moody's Investors Service (Moody's) has assigned a Aa1 enhanced rating to Custodial Receipts (TD Bank), Custodial Receipts, Series 2020-7B and Series 2020-8A evidencing beneficial ownership of South Carolina Public Service Authority, Revenue Obligations, Series 2016 Tax-Exempt Refunding and Improvement Series B (the Bonds). The rating is based upon joint default analysis (JDA), which reflects Moody's approach to rating jointly supported transactions.

    • Toronto-Dominion's Yield and Valuation Make the Stock a Buy
      GuruFocus.com

      Toronto-Dominion's Yield and Valuation Make the Stock a Buy

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    • Canada bank CEOs call for action on racism as protests rage across U.S.
      Reuters

      Canada bank CEOs call for action on racism as protests rage across U.S.

      Chief executives of Toronto-Dominion Bank and Canadian Imperial Bank of Commerce on Monday called for action to tackle racism, as violent protests raged across the United States over racial inequities and excessive police force. The unrest began with peaceful protests over the death of a black man, George Floyd, in police custody in Minneapolis last Monday, with video footage showing a white police officer kneeling on his neck before he died. "Tragedies like these are far too common, where people in our communities - in particular those who are black or indigenous - senselessly lose their lives," CIBC CEO Victor Dodig wrote on LinkedIn.

    • Reuters

      Canada's TD Bank CEO urges 'zero tolerance' of racism as protests rage across U.S.

      "The events over the last few weeks are the latest, but by no means the only, examples of racism and violence against Black communities," Bharat Masrani, who heads up Canada's second-biggest lender, wrote in the statement. "As a society we must have zero-tolerance for racism of any kind, in any form." The unrest began with peaceful protests over the death of a black man, George Floyd, in police custody in Minneapolis last Monday, with video footage showing a white police officer kneeling on his neck for nearly nine minutes before he died.

    • Reuters

      GRAPHIC-Canadian banks' tenfold jump in energy provisions to cap future pain, investors say

      Canadian banks' exposure to the beleaguered energy industry contributed to plunging profits in the second quarter, but investors said that as oil prices recover, the tenfold boost in loan-loss provisions lenders made from a year earlier may be enough to absorb any losses. Meanwhile, money set aside to cover energy loan losses rose to C$450 million ($330.37 million) at Canada's four biggest banks, from C$46 million a year earlier, according to Reuters calculations.

    • Toronto-Dominion (TD) Down 3.8% as Q2 Earnings Decline Y/Y
      Zacks

      Toronto-Dominion (TD) Down 3.8% as Q2 Earnings Decline Y/Y

      Drastic increase in provisions hurts Toronto-Dominion's (TD) fiscal Q2 earnings.

    • Toronto Dominion Bank (TD) Q2 2020 Earnings Call Transcript
      Motley Fool

      Toronto Dominion Bank (TD) Q2 2020 Earnings Call Transcript

      TD earnings call for the period ending April 30, 2020.

    • Investors brace for more earnings decline, higher provisions at Canadian banks
      Reuters

      Investors brace for more earnings decline, higher provisions at Canadian banks

      Investors and analysts are bracing for massive earnings declines at Canadian banks this fiscal year, after second-quarter profits halved as they set aside billions of dollars to cover loan losses from the coronavirus pandemic and a struggling energy sector. Market watchers warned that the nearly four-fold increase in provisions, to nearly C$11 billion ($8 billion), in the three months through April may not be adequate to absorb potential loan losses at some of the top six banks, with further increases likely to weigh on performance this year. "This was the most negative quarter that I can recall seeing in 25 years," said Brian Madden, a portfolio manager at Goodreid Investment Counsel.

    • Reuters

      Trudeau asks bank CEOs for views on economy, COVID-19 relief- Globe and Mail

      Canadian Prime Minister Justin Trudeau has spoken to the heads of the country's six big banks to get their views on the state of the economy and the COVID-19 relief efforts, the Globe and Mail reported on Sunday, citing multiple sources. This was Trudeau's first one-on-one dialogue with the CEOs since the beginning of the coronavirus outbreak, according to the report, which added that the calls took place around the Victoria Day long weekend. The topics covered included adjustments required in relief efforts rolled out by the government, need for further support and pressures faced by clients of the banks, the report said, adding that the talks were 'high-level check-ins rather than deep policy discussions'.

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      The Bank of Montreal Looks Attractive After Falling More Than 40%

      Shares of the bank had had a rough start to the year, but it currently offers an over 7% dividend yield Continue reading...