TD Bank Reports Good Third-Quarter Results; Loan Provisions Increase Nearly 30%
TD Bank reported a good fiscal third quarter, and we plan to maintain our wide moat rating and $49/CAD 63 fair value estimates. Overall adjusted net income increased 6% versus last year to CAD 2.4 billion because of improvements in U.S. retail and wholesale banking, partially offset by weakness in the Canadian retail and corporate segments. Net interest income improved 5% to CAD 4.9 billion, due primarily to U.S. retail lending and deposit growth, acquisitions, and favorable foreign currency imp...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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