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It's been rangebound the past year. He owns it for income and potential growth, like this sector. Continues to be confident in TD, given its large position in Canadian personal and commercial, large US presence, capital markets, and wealth management business. Headwind continues to be the overhang of anti-money laundering regulations in the U.S. which hurt their attempted takeover of First Horizon Bank last year. Near-term they will continue to grow organically and buyback lots of shares and remediate with U.S. regulators. TD has the most excess capital among Canadian banks. They need to right their ship in the U.S., perhaps change executives. It will eventually return to its premium valuation.
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