This is an article covering the investment prospects and performance of Toronto-Dominion Bank (NYSE:TD). It is the third in a series covering the big 5 Canadian banks, and you can find the first 2 on Royal Bank of Canada (NYSE:RY) here and The Bank of Nova Scotia (NYSE:BNS) here. The other 2 Canadian banks that will be covered and are compared throughout the article are the Bank of Montreal (NYSE:BMO) and the Canadian Imperial Bank of Commerce (NYSE:CM).
TD had another great quarter, which I have come to expect from them and so has the market. TD trades at the lowest yield of the major Canadian banks, around 3.2%. Compare this to their peer CM, which investors can grab today at a ~4.4% yield, and it's apparent that TD is expected to show stronger growth. With EPS growth of 13% YOY, net income growth of 14%, and revenue growth of 6%, it did not disappoint. The bank announced a 15M share buyback to combat dilution, which I discussed was an issue in my last article.
