Decent 2Q for Toronto Dominion; Hoping More Growth Will Materialize With Heightened Investments
Wide-moat Toronto-Dominion Bank reported decent fiscal second-quarter results. The wholesale banking unit made a comeback in the quarter, and the U.S. segment saw exceptional growth, leading to revenue growth of 8%, adjusted earnings growth of 7%, and adjusted EPS growth of 8%. We do not plan on making any material changes to our fair value estimates for Toronto-Dominion.The adjusted return on common equity recovered, returning to 17% for the quarter. With half of the year done, EPS growth is a...
Toronto Dominion Bank provides financial services. Co.'s segments comprised of: Canadian Retail, which include Canadian personal and commercial banking businesses, Canadian credit cards, TD Auto Finance Canada and Canadian wealth and insurance businesses; US Retail, which includes the US personal and commercial banking businesses, US credit cards, TD Auto Finance US, US wealth business and the Bank's investment its subsidiary, TD Ameritrade Holding Corporation; and Wholesale Banking, which provides a range of capital markets, investment banking, and corporate banking products and services. As of Oct 31 2017, Co. had total assets of C$1.28 trillion and total deposits of C$832.82 billion.
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