BUY
Toronto Dominion (TD)(TD-T)
30/05/2023
He's getting a little more positive on Canadian banks. He added some TD recently after they cancelled the First Horizon purchase which is a long-term positive, despite worries of TD not growing in the US because of regulatory concerns. Their recent numbers weren't that bad. Their capital ratios are outstandingly good. They won't raise dividends, but they could buyback shares and do an accretive buy in the US. Housing will be a slight headwind, capital markets will slow down and loan loss provisions will rise--but we all know that. It trades at 8x PE and has wads of excess capital. You can do worse than wading a bit into the banks.
Banks
John Zechner
$78.110
Owned