Why to invest in TD Bank?
In general, TD bank stocks make for a wise investment. It trades at a reasonable stock price of $81.92 per share, relative to its high dividend yield. Also, analysts predict that the market will improve, and interest rates will fall in the second half of 2024.
TD has a great track record of dividend growth. The company raised the payout late last year, and investors should see another increase in 2024. At the current share price, the stock provides a 5% yield. That's a decent return from one of Canada's largest companies.
With accounts built for every stage of life, you'll get free Online Banking, Mobile Banking, no fees at TD ATMs, plus overdraft options to help you avoid fees.
A better long-term investment than GICs
TD stock's dividend is safe. Its trailing 12-month payout ratio is about 56% of its net income, while its payout ratio is estimated to be roughly 52% of adjusted earnings this year. Generally speaking, stocks are riskier than GICs, but TD Bank is a quality business to own.
As one of the 10 largest banks in the U.S., TD Bank offers legendary local service backed by the financial soundness and strength of a multi-billion dollar company with North American reach.
The recent drop
The company reported lower fourth-quarter profit that fell below analyst estimates. TD earned $2.9 billion in the quarter, down 57% compared to 2022 levels. The bank also had $266 million in restructuring charges, after taxes, from jobs cuts and real estate sales.
They face regulatory challenges in the U.S. over money-laundering allegations. TD is spending on compliance and regulatory in response. A year from now, these expenses will be behind them and the stock will catch up to its peers.
TD Bank is worth considering if you're looking for a bank with great customer service and a few options for checking accounts at different stages of your life. However, if you're looking for a bank in which to park your money to earn interest, the rates are quite low.
Chase: Rates. Both banks offer relatively low-interest rates, but TD offers the potential for higher rates on its savings and checking accounts than Chase does. TD Bank offers a rate that starts at 0.01% APY for it's signature savings and caps out at 4.00% based on how much you have in the account.
TD Bank operates from a position of financial strength and security—with a longstanding focus on prudent risk management—and we hold ourselves to high standards of integrity, ethics and compliance. Above all, we are committed to our customers, our communities and our colleagues.
Is TD Bank stock a good buy right now?
The average price target for Toronto Dominion Bank is C$87.80. This is based on 10 Wall Streets Analysts 12-month price targets, issued in the past 3 months. The highest analyst price target is C$95.68 ,the lowest forecast is C$80.73. The average price target represents 7.41% Increase from the current price of C$81.75.
Is my money safe with TD? TD is dedicated to stability and security, with a longstanding focus on strong risk management and controls and a diverse portfolio mix including total deposits of $361 billion and a loan-to-deposit ratio of 48% as of 12/31/22.
Toronto Dominion's odds of distress is less than 5% at the present time. It is unlikely to undergo any financial distress in the next 24 months.
Bank of America should be your choice if you're more secure and have some wiggle room with your finances. TD Bank is better suited for banking newbies. Some of you may fall in the middle. In that case, it may be best to determine which bank would be better for you according to respective rates, accounts and fees.
Largest shareholders include Royal Bank Of Canada, Bank Of Montreal /can/, Vanguard Group Inc, Td Asset Management Inc, CIBC World Markets Inc., Bank Of Nova Scotia, National Bank Of Canada /fi/, Mackenzie Financial Corp, FIL Ltd, and VGTSX - Vanguard Total International Stock Index Fund Investor Shares .
Who owns Toronto Dominion Bank? Toronto Dominion Bank (NYSE: TD) is owned by 51.38% institutional shareholders, 0.00% Toronto Dominion Bank insiders, and 48.62% retail investors. Royal Bank Of Canada is the largest individual Toronto Dominion Bank shareholder, owning 151.32M shares representing 8.45% of the company.
Toronto-Dominion Bank is now ranked among the top 25 undervalued stocks included in the S&P/TSX Composite Index. Stocks in this market cap category are held primarily for capital appreciation and/or dividends. Inclusion in a major index means a company ranks among the largest in their market.
Toronto Dominion Bank stock (symbol: TD) underwent a total of 2 stock splits.
Yes, TD Bank is FDIC insured (FDIC #18409). All TD bank accounts are FDIC insured up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.
TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing over 9.9 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and ...
Is TD Bank owned by Chase?
TD Bank, N.A. is an American national bank and the United States subsidiary of the multinational TD Bank Group.
TD Bank offers multiple business checking solutions for small business owners and entrepreneurs. All business accounts include personalized support at more than 1,100 branch locations. A TD Bank business checking account could be a good fit if you live near a branch and enjoy having the option of in-person banking.
Big Five is the name colloquially given to the five largest banks that dominate the banking industry of Canada: Bank of Montreal (BMO), Scotiabank, Canadian Imperial Bank of Commerce (CIBC), Royal Bank of Canada (RBC), and Toronto-Dominion Bank (TD).
The main competitors of Toronto-Dominion Bank include Royal Bank of Canada (RY), Bank of Montreal (BMO), Bank of Nova Scotia (BNS), Canadian Imperial Bank of Commerce (CM), National Bank of Canada (NA), Brookfield (BN), Manulife Financial (MFC), Sun Life Financial (SLF), Intact Financial (IFC), and Great-West Lifeco ( ...
Disadvantages. Banks don't generally specialize in investing since they are more about savings, day-to-day financial transactions, and loans. That means that a bank might have a more limited pool of mutual fund families—multiple funds managed by the same company—for their customers to choose from.
