Toronto Dominion Bank (NYSE:TD) Releases Earnings Results, Beats Estimates By $0.13 EPS

Posted by Ethan Ryder on Feb 27th, 2026

Toronto Dominion Bank (NYSE:TD – Get Free Report) (TSE:TD) announced its quarterly earnings data on Thursday. The bank reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.13, Zacks reports. Toronto Dominion Bank had a return on equity of 13.90% and a net margin of 16.52%.The company had revenue of $11.01 billion during the quarter, compared to analysts’ expectations of $10.43 billion. During the same quarter last year, the company earned $2.02 EPS. Toronto Dominion Bank’s revenue for the quarter was up 18.1% compared to the same quarter last year.

Here are the key takeaways from Toronto Dominion Bank’s conference call:

Record quarter — TD reported Q1 record earnings of CAD 4.2 billion and EPS of CAD 2.44, driving ROE to about 14.2% and broad revenue growth across businesses.
Capital returns and position — the bank completed an $8B buyback, launched a new $7B program (?84M shares repurchased across both), and remains on a path to manage toward a 13% CET1 by H2 FY2027 while emphasizing consistent excess-capital returns.
Credit pick-up in wholesale and U.S. commercial — impaired PCLs rose driven by a small number of borrowers (more than half of the increase from a single wholesale borrower), though management says overall PCLs remain within the guided 40–50 bps range.
Cost and productivity program — restructuring charges this quarter totaled CAD 200M (CAD 886M cumulative) with expected annualized pre-tax savings of CAD 775M and a medium-term cost-takeout target of CAD 2.2–2.5B, supported by scaled AI initiatives targeting CAD 1B of value.
U.S. Banking momentum and Nordstrom conversion — U.S. proprietary card balances grew ~15% YoY and the Nordstrom card conversion completed (scales the card franchise), but TD expects a Q2 receivable accounting adjustment of about $145M and is reclassifying certain tax-related items to improve U.S. efficiency metrics.

Toronto Dominion Bank Stock Performance

Shares of TD stock traded down $1.47 during midday trading on Friday, hitting $97.31. 3,482,584 shares of the company were exchanged, compared to its average volume of 2,574,451. Toronto Dominion Bank has a 52 week low of $54.87 and a 52 week high of $99.84. The firm has a market capitalization of $162.63 billion, a P/E ratio of 11.54, a PEG ratio of 1.30 and a beta of 0.67. The firm’s 50 day moving average price is $95.00 and its two-hundred day moving average price is $85.38. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03.

Toronto Dominion Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 9th will be paid a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Thursday, April 9th. Toronto Dominion Bank’s dividend payout ratio (DPR) is currently 37.37%.

Institutional Investors Weigh In On Toronto Dominion Bank

A number of institutional investors have recently made changes to their positions in TD. The Manufacturers Life Insurance Company grew its position in shares of Toronto Dominion Bank by 10.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 17,014,836 shares of the bank’s stock valued at $1,606,978,000 after purchasing an additional 1,629,062 shares during the last quarter. AQR Capital Management LLC boosted its stake in Toronto Dominion Bank by 1,443.3% in the 4th quarter. AQR Capital Management LLC now owns 1,449,855 shares of the bank’s stock valued at $136,642,000 after purchasing an additional 1,355,907 shares during the period. Bank of Nova Scotia grew its holdings in Toronto Dominion Bank by 6.8% in the 4th quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank’s stock valued at $1,836,518,000 after buying an additional 1,234,510 shares in the last quarter. Caisse de depot et placement du Quebec increased its position in Toronto Dominion Bank by 70.1% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 2,360,000 shares of the bank’s stock worth $188,746,000 after buying an additional 972,513 shares during the period. Finally, Amundi increased its position in Toronto Dominion Bank by 27.3% during the 4th quarter. Amundi now owns 3,448,492 shares of the bank’s stock worth $324,894,000 after buying an additional 739,679 shares during the period. Institutional investors own 52.37% of the company’s stock.

Key Headlines Impacting Toronto Dominion Bank

Here are the key news stories impacting Toronto Dominion Bank this week:

Positive Sentiment: Record Q1 results and beats — TD reported adjusted Q1 earnings that topped estimates and revenue grew ~18%, driven by Canadian P&C and wholesale fee growth; this is the primary bullish catalyst. The Toronto?Dominion Bank (TD) Q1 2026 Earnings Call Highlights: Record Earnings and Strategic …
Positive Sentiment: Dividend increase/confirmation — TD declared a CA$1.08 quarterly common share dividend (payable Apr. 30), supporting income investors and reinforcing capital return credibility. TD BANK GROUP DECLARES DIVIDENDS
Positive Sentiment: Strategic investment in AI and digital — Management highlighted scaling AI to remediate the U.S. AML program and other tech investments, which may lower future compliance costs and improve efficiency. TD Bank Scales AI to Fix AML Program
Positive Sentiment: Momentum/valuation interest — Shares recently hit a 52?week high and analysts/publications are re?rating TD after robust results and strong total shareholder returns, attracting momentum flows. Toronto Dominion Bank (The) (TD) Hit a 52 Week High, Can the Run Continue?
Neutral Sentiment: Valuation and investor takeaways — Analysts are revisiting TD’s valuation after record adjusted earnings and the new dividend; some coverage balances growth vs. price, useful for medium?term positioning. Assessing TD Bank (TSX:TD) Valuation After Record Q1 Earnings And New Dividend
Neutral Sentiment: Full filings/presentation available — Management released the earnings presentation and slide deck (useful for modeling segment performance and guidance). The Toronto?Dominion Bank 2026 Q1 – Results – Earnings Call Presentation
Negative Sentiment: GAAP EPS down year?over?year — While adjusted EPS beat, reported GAAP EPS were lower versus the prior year, and remediation/one?time items remain watchpoints that could temper near?term investor enthusiasm. Toronto Dominion Bank’s quarterly profit rises on higher interest income

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Zacks Research raised Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Sunday, February 22nd. Jefferies Financial Group lowered shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, National Bank Financial raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Thursday, December 18th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Toronto Dominion Bank has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

Check Out Our Latest Report on TD

Toronto Dominion Bank Company Profile

(Get Free Report)

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.