Toronto-Dominion Remains One of the Premier Canadian Bank Franchises, Even With Slow Start to 2019
Wide-moat rated Toronto-Dominion Bank’s fourth-quarter earnings were well within our expectations and do not affect our long-term thesis on the firm. We are increasing our fair value estimate for the Canadian shares to CAD 81 from CAD 80 and decreasing our fair value estimate for U.S. shares to $61 from $62 due to updated exchange rates.The adjusted return on common equity remained came in at 17% for full-year results, placing Toronto-Dominion in the top tier of Canadian banks that earned 17%-...
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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