Toronto-Dominion Bank (NYSE:TD) is a major Canadian financial institution with a large presence in the United States. The bank operates through several segments, including Canadian and U.S. retail banking, wealth management, and wholesale banking. With a market capitalization of around $204.00 billion, Toronto-Dominion Bank is one of North America's largest banks.
On August 28, 2026, analyst firm Scotiabank confirmed its "Outperform" rating for Toronto-Dominion Bank. This positive view came when the stock price was $120.71. Scotiabank also increased its price target for the company to C$187.00 from the previous C$180.00, signaling confidence in the bank's future performance.
This optimistic rating is supported by Toronto-Dominion Bank's strong third-quarter results. The bank reported a profit of $4.60 billion, a large increase from $3.30 billion in the same period last year. Total revenue also grew, reaching $16.89 billion for the quarter, up from $15.30 billion a year prior.
The bank's performance exceeded market expectations. Its adjusted earnings per share (EPS), a key measure of profitability, reached $2.77. This figure was well above the average analyst forecast of $2.47 per share. Strong results were seen across all business segments, including its capital markets division.
Toronto-Dominion Bank also showed improved credit health. Its provision for credit losses, which is money set aside for potential bad loans, decreased to $917.00 million from $971.00 million. As highlighted by WSJ, this reduction contributed to higher earnings. Looking forward, the bank plans to open 100 new branches in the United States.
