The Toronto-Dominion Bank
TD: XTSE (CAN)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| CAD 99.00 | Xfzts | Fypzspzl |
Fairly Messy Quarter for Toronto Dominion Bank; Adjusted Results Will Have to Keep Growing From Here
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Wide-moat-rated Toronto Dominion reported OK fiscal first-quarter earnings. Adjusted earnings per share were CAD 2.23, representing year-over-year growth of 7% and sequential growth of 2%. This is just below the run rate the bank will need to meet its original 2023 EPS growth outlook, so the bank will have to keep growing EPS from here, even as credit costs potentially increase. Adjusted pretax preprovisioning earnings, or PTPP, were up 10% sequentially.