Toronto-Dominion Bank (TD)
Runs Canadian and U.S. banking alongside wealth, insurance, and wholesale finance.
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Provides personal and commercial banking in Canada and the United States alongside wealth management, insurance, and wholesale banking. Its branch-service heritage supports a four-business model, while U.S. banks operate under an asset cap and ongoing anti-money-laundering remediation.
Serves personal and commercial customers through Canadian Personal and Commercial Banking and U.S. Banking, while Wealth Management and Insurance and Wholesale Banking extend the group into advice, coverage, capital markets, and corporate finance across North America.
Builds its retail identity on branch convenience and service positioning inherited from Canada Trust and Commerce, while TD Securities and TD Cowen anchor wholesale activity. The remaining Schwab relationship is an insured-deposit arrangement, not an equity stake.
Operates its U.S. banks under an OCC asset cap and continues a multi-year anti-money-laundering remediation program. The cap excludes TD Securities and Canadian and other global businesses, making the constraint specific to the U.S. banking subsidiaries.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| May 4, 2026 | Scotiabank | Upgrade | ||
| Oct 3, 2025 | RBC Capital | Upgrade | ||
| Dec 18, 2024 | BMO Capital | Upgrade |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jul 31, 2026Cash & short-term investments $4.84B · Total debt $211.79B · Total assets $1.50T · Shareholders' equity $90.31B
- Revenue
- $20.31B
- Operating income
- $4.16B
- Net income
- $3.28B
Reported in CAD, converted at the latest exchange rate
HistoryDividendAnnual yieldUpcoming
| Institutions | 47.21% | 797.64M shares | |
|---|---|---|---|
| 949 holders · as of Jun 30, 2026 | |||
| Other | 52.79% | 891.86M shares | |
| remainder | |||
1.69B company shares as of Sep 21, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Royal Bank of CanadaInstitution | 6.32% | 106.82M | as of Jun 30, 2026 |
Bank of Montreal /Can/Institution | 3.71% | 62.73M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 3.01% | 50.84M | as of Jun 30, 2026 |
CIBC World Market Inc.Institution | 2.14% | 36.19M | as of Jun 30, 2026 |
FIL LtdInstitution | 1.80% | 30.47M | as of Jun 30, 2026 |
Insider tradesForm 4
Nothing filed in the last 12 months.
- Royal Bank of Canada
Canada-wide rival in banking, wealth, insurance and capital markets
- Bank of Montreal
Broad rival across Canadian and U.S. banking, wealth and capital markets
- Scotiabank
Canadian banking, wealth and wholesale-banking peer
- CIBC
Broad rival across Canadian banking, U.S. commercial banking, and markets
- JPMorgan Chase
U.S. banking, wealth and wholesale-finance rival at global scale
- Bank of America
U.S. banking, wealth, corporate finance and markets rival
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Toronto-Dominion Bank | $122.29 | −1.41% | $209.57B | 18.6 | 16.8 | 2.6 | −22.1% |
| Royal Bank of Canada | $202.68 | −1.70% | $286.56B | 18.2 | 17.5 | 2.8 | −22.1% |
| Bank of Montreal | $173.73 | −1.95% | $124.11B | 20.3 | 16.3 | 2.2 | −20.6% |
| Scotiabank | $94.14 | −1.27% | $116.24B | 17.4 | 15.3 | 2.3 | −42.3% |
| CIBC | $114.49 | −1.52% | $107.73B | 15.6 | 15.6 | 2.4 | −17.4% |
| JPMorgan Chase | $340.02 | −3.41% | $943.29B | 15.2 | 14.1 | 3.2 | +27.8% |
| Bank of America | $56.33 | −2.82% | $411.32B | 13.4 | 11.5 | 2.1 | +19.3% |
| Median | 16.5 | 15.4 | 2.3 | −19.0% |