Financial Data and Key Metrics Changes - The bank reported Q4 earnings of CAD 3.9 billion, with EPS of CAD 2.18, and ROE increased by 110 basis points year over year [9][10] - Year-over-year earnings growth was 5%, with a total payout ratio of 93% including share buybacks and dividends [10][30] - The CET1 ratio ended the quarter at 14.7%, down 15 basis points sequentially, with strong internal capital generation [29] Business Line Data and Key Metrics Changes - Canadian Personal and Commercial Banking achieved record revenue, deposits, and loan volumes, with average deposits up 4% year over year [12][24] - U.S. Retail saw core loans grow by 2% year over year, with bank card balances up 14% year over year [12][25] - Wealth Management delivered record earnings and assets, with new accounts in direct investing up 27% and trades per day up 37% year over year [14][27] - Wholesale Banking generated record revenue of CAD 2.2 billion, benefiting from a constructive capital markets backdrop [15][28] Market Data and Key Metrics Changes - The Canadian economy remains resilient despite trade uncertainties, with government actions expected to support economic activity [4][5] - In the U.S., businesses and households are benefiting from regulatory and monetary policy changes, leading to increased investment activity [5] Company Strategy and Development Direction - The bank's strategy focuses on deepening client relationships, simplifying operations, and executing with discipline [6][8] - AI is identified as a significant growth opportunity, with plans to implement 200 million in incremental value from AI use cases in the next year [7] - The bank aims to achieve 6%-8% EPS growth and 13% ROE targets for fiscal 2026, with potential upside from strong business momentum [9][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving medium-term targets despite economic uncertainties, with a focus on prudent provisioning and strong capital position [8][34] - The bank expects PCLs to be in the 40-50 basis points range, an improvement from the previous year's guidance [34] Other Important Information - The bank transitioned to a semi-annual dividend review cycle, announcing a CAD 0.03 dividend increase to CAD 1.08 per share [10] - The bank is over three-quarters through its CAD 8 billion share buyback program, with plans for a new buyback of CAD 6 billion-CAD 7 billion [11] Q&A Session Summary Question: Dynamics behind residential mortgages and HELOC portfolio performance - Management noted that the Canadian housing outlook is slightly better due to pent-up demand and a strong customer profile, with stable delinquencies across both residential mortgages and HELOCs [36][37] Question: Capital allocation and CET1 ratio outlook - Management indicated a disciplined approach to capital allocation, prioritizing organic growth and returning capital to shareholders, with expectations to maintain a CET1 ratio in the mid-13s over the next year [40][41] Question: Margin outlook and expense growth commitment - Management confirmed that while NIM is expected to remain stable, they are committed to delivering mid-single-digit expense growth in 2026, supported by ongoing productivity initiatives [48][54] Question: Insurance segment performance and future outlook - Management acknowledged weaker earnings in the insurance segment for Q4 but emphasized strong full-year growth in gross written premiums and a strategic rebalancing away from high-catastrophe zones [59][60]

Financial Performance - Reported net income was $3.3 billion, with an EPS of $1.82[9] - Adjusted net income reached $3.9 billion, with an EPS of $2.18, a 27% year-over-year increase[9] - Pre-tax, pre-provision earnings (PTPP) stood at $6.7 billion[9] - Adjusted PTPP was $5.4 billion, up 25% year-over-year, excluding specific items[9] - The bank's CET1 ratio was 14.7%[9] Business Segment Highlights - Canadian Personal & Commercial Banking saw revenue increase by 5% year-over-year[40] - U S Retail net income increased 29% year-over-year[45] - Wealth Management & Insurance net income doubled year-over-year[48] - Wholesale Banking revenue increased by 24% year-over-year[52] Strategic Initiatives - The bank implemented approximately 75 AI use cases in F'25, generating $170 million in value, with expectations of $200 million in F'26[7] - Fraud losses decreased by 26% year-over-year due to investments in fraud modernization[8] - The bank is undergoing a restructuring program expected to yield annual cost savings of approximately $750 million pre-tax, involving a workforce reduction of around 3%[37]

Group 1 - Canadian financial institutions, including Toronto Dominion Bank, Bank of Montreal, and Canadian Imperial Bank of Commerce, are highlighted in the reports released on Thursday morning [1] - Next Wednesday, technology giant Adobe Inc. is scheduled to report its financial results [1] - The week will conclude with significant market players Broadcom Inc. and Costco Wholesale Corporation reporting after market close next Thursday [1]

Group 1 - Toronto-Dominion Bank (TD) reported quarterly earnings of $1.56 per share, exceeding the Zacks Consensus Estimate of $1.46 per share, and up from $1.26 per share a year ago, representing an earnings surprise of +6.85% [1] - The bank's revenues for the quarter ended October 2025 were $11.06 billion, surpassing the Zacks Consensus Estimate by 0.14%, but down from $11.36 billion year-over-year [2] - Toronto-Dominion shares have increased approximately 58.5% year-to-date, significantly outperforming the S&P 500's gain of 16.5% [3] Group 2 - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The trend of estimate revisions for Toronto-Dominion was unfavorable prior to the earnings release, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] - The current consensus EPS estimate for the next quarter is $1.53 on revenues of $11.14 billion, and for the current fiscal year, it is $6.28 on revenues of $45.2 billion [7] Group 3 - The Zacks Industry Rank places the Banks - Foreign sector in the top 30% of over 250 Zacks industries, suggesting that stocks in the top 50% of Zacks-ranked industries tend to outperform those in the bottom 50% by more than 2 to 1 [8]

格隆汇12月4日｜多伦多道明银行公布第四财季业绩，总收入为154.94亿加元，与去年同期相当；调整 后净利润同比增长近22%至39.05亿加元，调整后每股收益为2.18加元，超过分析师预期的2.01加元。该 行宣布季度股息为每股普通股1.08加元，较上季度的1.05加元有所提升。 ...

Toronto-Dominion Bank lifted its dividend payout 2.9% after logging quarterly growth in fee and trading income and domestic-banking volume, which helped counter a hit from restructuring and other char... ...

TD Bank beat estimates on record results at its capital-markets unit, continuing a trend seen across other Canadian lenders https://t.co/6IrYjLqzYS ...

Group 1 - Major market movers from the technology and financial sectors are set to report earnings, with Salesforce Inc. and Royal Bank Of Canada among the key companies [1] - Earnings density peaks on Thursday with 24 reports, including significant contributions from Canadian banks like Toronto Dominion Bank [1] - CrowdStrike Holdings Inc. will also report earnings after the close on Tuesday, December 2nd, indicating a strong technology presence early in the week [1]

Financial Sector Earnings - The upcoming week features significant earnings reports from major Canadian financial institutions, including Royal Bank of Canada on Wednesday and Toronto Dominion Bank, Bank of Montreal, and Canadian Imperial Bank of Commerce on Thursday [1] - The earnings reports from these banks are expected to provide insights into the Canadian financial sector's performance and outlook [1] Software Sector Earnings - The week is also packed with software earnings reports, with CrowdStrike Holdings Inc. and Marvell Technology Inc. reporting after market close on Tuesday, followed by Salesforce Inc. and Snowflake Inc. on Wednesday [1] - These earnings are anticipated to reflect trends and developments in the software industry, which may influence investor sentiment and market dynamics [1]

Core Insights - Toronto Dominion Bank (TD) is a prominent Canadian bank with a strong presence in North America, offering a wide range of financial services [1] - Despite a downgrade from Jefferies from Buy to Hold, investor interest in TD remains high, with the stock currently priced at $82.70 [1][4] Investment Activity - Aviso Financial Inc. has increased its investment in TD by 1.2%, now holding 1,671,746 shares, making TD the largest holding in their portfolio, valued at $122.9 million [2] - Steward Partners Investment Advisory LLC has also raised its stake in TD by 3.3%, now owning 15,759 shares valued at $1.16 million, indicating continued confidence in TD [2][4] Stock Performance - TD's stock has shown resilience, trading between $81.82 and $82.89 today, with a market capitalization of approximately $143.8 billion [3] - Over the past year, TD's stock has reached a high of $82.94 and a low of $51.25, with a trading volume of 1,093,777 shares on the NYSE [3]