First stock in the clip. GLTA
https://www.bnnbloomberg.ca/video/chris-blumas-top-picks~2739477
TD Bank (TD TSX) Most recent purchase at $84.20 on July 17, 2023
TD is a retail-focused North American bank. Its share price is down around five per cent over the last si months and has underperformed its peer group. The bank recently terminated its deal to buy First Horizon (FHN-US), a U.S. regional bank because it was unable to secure regulatory approval. The collapse of this deal has spooked investors and hurt TD’s reputation. Going forward, TD has the largest capital buffer among its peers and the option to direct any excess capital toward a number of shareholder-friendly actions. TD shares currently trade around 10 times forward earnings and have a dividend yield of 4.3 per cent.
TOP PICK
Toronto Dominion (TD)(TD-T)
03/08/2023
Able to play offense in a tough environment. Valuation of 10x earnings, discount to peers. Most excess capital of any Canadian bank. A conservative commercial real estate lender, so exposure isn't outsized. Yield is 4.49%.
(Analysts’ price target is $93.54)
Banks
Chris Blumas
$85.740
Owned