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    TD   CA8911605092

THE TORONTO-DOMINION BANK

(TD)
  Report
Delayed Toronto Stock Exchange  -  04:00:00 2023-01-27 pm EST
91.42 CAD   +0.72%
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Toronto-Dominion Bank 4Q Profit Rise Tops Expectations

12/01/2022 | 07:11am EST

By Adriano Marchese


Toronto-Dominion Bank on Thursday reported a rise in profit in the fourth quarter of fiscal 2022, benefiting from strong performances by its largest segments and a strong U.S. dollar.

The Canadian banking and financial services corporation posted net income of 6.67 billion Canadian dollars ($4.97 billion) in the three months ended Oct. 31, or C$3.62 a share, compared with the prior-year period when it reported net income of C$3.78 billion, or C$2.04 a share.

On an adjusted basis, earnings rose to C$2.18 a share from C$2.09 a share, beating analyst expectations for a decline to C$2.05 a share, according to FactSet.

Total revenue rose to C$15.56 billion from C$10.94 billion last year.

Provision for credit losses were C$617 million, compared with a recovery of C$123 million a year earlier.

TD's common equity tier 1 capital ratio, which measures a bank's capital compared with its risk-weighted assets, rose to 16.2% from 15.2% last year.

The bank's main segments performed well in the quarter, with Canadian personal and commercial banking income growing 11% to C$1.69 billion, while a strong U.S. dollar helped its U.S. retail segment income increase 12% to C$1.54 billion.

Meanwhile, TD's wealth management and insurance unit's net income decreased by 15% to C$516 million as insurance claims and expenses rose 11% in the period, and its wholesale banking saw a decrease of 38% in net income to C$261 million.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

12-01-22 0711ET

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Analyst Recommendations on THE TORONTO-DOMINION BANK
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Financials
Sales 2023 51 391 M 38 603 M 38 603 M
Net income 2023 15 350 M 11 530 M 11 530 M
Net Debt 2023 - - -
P/E ratio 2023 10,6x
Yield 2023 4,10%
Capitalization 166 B 125 B 125 B
Capi. / Sales 2023 3,23x
Capi. / Sales 2024 3,00x
Nbr of Employees 94 945
Free-Float 99,5%
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Technical analysis trends THE TORONTO-DOMINION BANK
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 16
Last Close Price 91,42 CAD
Average target price 101,28 CAD
Spread / Average Target 10,8%
EPS Revisions
Managers and Directors
Bharat B. Masrani Group President, CEO & Non-Independent Director
Kelvin Vi Luan Tran Chief Financial Officer & Senior Executive VP
Brian Michael Levitt Non-Executive Chairman
Greg Keeley Senior Executive VP-Technology & Platforms
Nadir H. Mohamed Independent Director