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Toronto-Dominion Bank TDOPF


Primary Symbol: T.TD Alternate Symbol(s):  T.TD.PF.C | T.TD.PF.D | T.TD.PF.J | TDBKF | T.TD.PF.M | T.TD.PF.E | TDOMF | T.TD.PF.I | TD | TDBCP | T.TD.PF.A | TNTTF | T.TD.PF.B

Financial Services
The Toronto-Dominion Bank (the Bank) operates as a bank in North America. The Bank's segments include Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking. Its Canadian Personal and Commercial Banking segment offers a full range of financial products and services to approximately 15 million customers in the Bank’s personal and commercial banking businesses in Canada. Its U.S. Retail segment offers a range of financial products and services under the brand TD Bank, America’s Most Convenient Bank. U.S. Retail Segment also TD Auto Finance U.S., TD Wealth (U.S.) business. Wholesale Banking segment operates under the brand name TD Securities, which offers a range of capital markets and corporate and investment banking services to corporate, government, and institutional clients. Its Wealth Management and Insurance segment provides wealth solutions and insurance protection to approximately six million customers in Canada.


TSX:TD - Post by User

Toronto-Dominion Bank
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Post by JasleenDhakaon Dec 12, 2022 2:51pm
250 Views
Post# 35166743

Rate Hike Pause Should Benefit the Big Five!

Rate Hike Pause Should Benefit the Big Five! About our analyst: Siddharth Rajeev, B.Tech
 
 (Electronics Engineering), MBA (Finance), CFA

Update on Canadian Banks:

• FY2022 (ended October 2022) EPS of the Big Five beat our estimates by 9% on average, due to stronger-than-expected lending, and lower-than-expected loan loss provisions. Except for CIBC, all of the Big Five reported earnings growth in FY2022.

• Lending surged 17% in FY2022 vs 6% in FY2021. Due to higher rates, and a slowing economy, we are expecting loan growth to decline in FY2023. The IMF recently lowered its 2023 GDP growth forecast for Canada from 1.8% to 1.5%.

• On November 29, 2022, RBC announced plans to acquire HSBC Bank Canada (LSE: HSBA) for $13.5B, implying 2.4x P/B and 18.7x P/E. These multiples reflect a 103% premium to the current sector averages, and a 49% premium to pre-pandemic levels, indicating that RBC is expecting significant synergies from the deal.

Keep reading more in the full report available here: https://www.researchfrc.com/canadian-banks-tsx-ry-td-bns-bmo-cm-rate-hike-pause-should-benefit-the-big-five/?utm_source=stockhouse.com&utm_medium=Referral&utm_campaign=stockhouse.com&utm_id=Canadian+Banks

*FRC provides issuer-paid coverage.
*Past performance is not indicative of future results.
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