TD Bank Florida has become one of the biggest banks in the sunshine state. So have you ever wondered: what does TD Bank stand for, who owns TD Bank or is it a good bank to invest or do business with?
As a research analyst and economist, I like to make decisions based on facts. This is why I start my investigations by jumping in and doing some research. To share my analysis I have started this “Fifteen Things You Need to Know” series. It gives you the basic facts, in no particular order, so that you can get a good feel for yourself to make a smart decision based on facts. Because TD Bank Florida is part of the TD Bank Group we also analyzed data of the TD Bank stock in general.
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1. What Does TD Bank Stand For?
TD stands for Toronto-Dominion. The bank is headquartered in Cherry Hill, New Jersey and Toronto, Canada, and was founded in 1855. TD Bank is the seventh-largest U.S. bank by deposits and the 11th largest bank in the United States by total assets, resulting from a series of several mergers and acquisitions. Furthermore, it is among the world’s 25 largest banks and one of the biggest banks in Canada. The Canadian banking industry has been considered to be one of the safest and soundest banking systems in the world, and avoided major problems in the Financial crisis of 2007–2008. This is why doing business with TD Bank or investing in their stock is worth a closer look!
2. Since When is TD in Florida?
TD started its business in Florida by acquiring Commerce Bank on March 31, 2008, and the company rebranded as TD Bank, America’s Most Convenient Bank. Commerce Bank was founded in 1973 and rapidly grew over the next 30 years into metro New York and Philadelphia, Washington D.C., and South Florida.
3. Who Owns TD Bank?
If you decide to buy a TD Bank stock you will have famous companies as your co shareholders. Here are some big names that most of us are familiar with: Royal Bank of Canada, Bank of Montreal (BMO), The Vanguard Group, Capital Research Global Investors, Capital World Investors and Bank of America Corporation.
4. What is TD Bank Famous for?
TD is currently known as Canada’s second largest bank. In addition, TD Bank is famous for expanding its retail business to the US market and its more than 15 million active online and mobile customers. As a major bank the Toronto-Dominion Bank trades on the Toronto and New York stock exchanges under the symbol “TD”. Some of you may know TD Bank as the issuer of REDcard which are the Target Credit Cards.
5. What Services are Offered by TD Bank Florida?
TD Bank Florida offers services for private customers, small businesses, commercial customers and wealth services. Private customers can get checking and serving accounts, private loans, credit cards, home lending and use the bank’s investing services. Overall TD Bank offers traditional banking products.
6. TD Bank Florida Locations – TD Bank Branch near me
TD Bank Florida has locations in 123 cities & towns in the sunshine state near you. Here are their top 5 locations:
- TD Bank Miami
- TD Bank Orlando
- TD Bank Tampa
- TD Bank Naples
- TD Bank West Palm Beach
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7. TD Bank Earnings Dates 2022
Scheduled: Q4 2022Scheduled Dec 1
Q3 2022EPS beaten by 2.48%
Q2 2022EPS beaten by 4.01%
Q1 2022EPS beaten by 2.08%
8. TD Bank Stock Forecast?
Return on equity, or ROE, is a measure of management efficiency, and it gives you some idea how much profit a company generates with shareholder money. TD’s ROE is an eye-popping 14.04% trailing 12 months. Lean, mean comrades-in-banking JPMorgan Chase (NYSE: JPM) and Wells Fargo (WFC 1.54%) have ROEs of just 11.55% and 13.07%, respectively. Go, Canada.
According to CNN Money currently, “the 2 analysts offering 12-month price forecasts for Toronto-Dominion Bank have a median target of 74.61, with a high estimate of 75.00 and a low estimate of 74.21. The current consensus among 7 polled investment analysts is to hold stock in Toronto-Dominion Bank.”
9. Impressive Return on Equity – TD Bank Florida
Let’s take a look at TD’s Return on Equity in comparison with other major banks. Generally speaking “Return on equity (ROE) is the measure of a company’s net income divided by its shareholders’ equity. ROE is a gauge of a corporation’s profitability and how efficiently it generates those profits. The higher the ROE, the better a company is at converting its equity financing into profits. On July 31st TD Bank’s Return on Equity was approximately 14.19%. Goldman Sachs’s Return on Equity was 13.99%, Bank of America was 9.85% on June 30th and Morgan Stanley 12.47% on June 30th.
10. TD Bank Profit Margins
Toronto Dominion Bank net profit margin as of July 31, 2022 is 22.93%. In comparison other banks had higher profit margins up to 30.78%!
- Morgan Stanley net profit margin as of June 30, 2022 is 22.76%.
- Royal Bank Of Canada net profit margin as of July 31, 2022 is 26.29%.
- Bank Of America net profit margin as of June 30, 2022 is 28.89%.
- Goldman Sachs net profit margin for the three months ending June 30, 2022 was 30.78%.
11. Toronto Dominion Bank PE Ratio
As most of us know the price-to-earnings ratio is the ratio for valuing a company that measures its current share price relative to its earnings per share (EPS). A high P/E ratio could mean that a company’s stock is overvalued, or that investors are expecting high growth rates in the future. So let’s look at Toronto Dominion Bank PE ratio. As of September 09, 2022 it is 10.36. In comparison:
- Morgan Stanley PE ratio as of September 09, 2022 is 11.74.
- Royal Bank Of Canada PE ratio as of September 09, 2022 is 11.17.
- Bank Of America PE ratio as of September 09, 2022 is 10.92.
- Goldman Sachs PE ratio as of September 09, 2022 is 7.69.
12. TD Bank Dividend Yield – Top Dividend Yield
As most of us know, the dividend yield—displayed as a percentage—is the amount of money a company pays shareholders for owning a share of its stock divided by its current stock price. Because banks are mature companies, most of them are likely to pay good dividends. So how much dividend yield does TD Bank pay? The current dividend yield for Toronto Dominion Bank as of September 09, 2022 is 4.09%. Overall, Canadian banks have very attractive dividend yields.
- The current dividend yield for Goldman Sachs as of September 09, 2022 is 2.94%.
- The current dividend yield for Bank Of America as of September 09, 2022 is 2.52%.
- The current dividend yield for Morgan Stanley as of September 09, 2022 is 3.47%.
- The current dividend yield for Royal Bank Of Canada as of September 09, 2022 is 4.06%.
- The current dividend yield for Bank Of Montreal as of September 09, 2022 is 4.44%.
- Canadian Imperial Bank of Commerce Dividend Yield 4.91% for Sept. 12, 2022
13. Toronto Dominion Bank Market Cap
Toronto Dominion Bank market cap as of September 09, 2022 is $122.61B.
- Goldman Sachs market cap as of September 09, 2022 is $116.1B.
- Bank Of America market cap as of September 09, 2022 is $280.75B.
- Morgan Stanley market cap as of September 09, 2022 is $153.59B.
- Royal Bank Of Canada market cap as of September 09, 2022 is $136.55B.
- Bank Of Montreal market cap as of September 09, 2022 is $66B.
14. Toronto Dominion Bank Revenue
Toronto Dominion Bank net income for the twelve months ending July 31, 2022 was $11.288B, a 5.95% decline year-over-year.
- Goldman Sachs net income for the twelve months ending June 30, 2022 was $15.710B, a 20.06% decline year-over-year.
- Bank Of America net income for the twelve months ending June 30, 2022 was $26.565B, a 1.5% increase year-over-year.
- Morgan Stanley net income for the twelve months ending June 30, 2022 was $13.109B, a 1.09% decline year-over-year.
- Royal Bank Of Canada net income for the twelve months ending July 31, 2022 was $12.192B, a 2.02% increase year-over-year.
- Bank Of Montreal net income for the twelve months ending July 31, 2022 was $8.572B, a 55.91% increase year-over-year.
15. Is TD Bank a Good Stock to Buy
Overall, TD Bank seems to be a good stock for everyone who considers himself or herself a conservative value investor. Furthermore, as a Canadian Bank TD Bank is considered a safe banking stock. This said, you might want to have a closer look at the other big Canadian Banks like Canadian Imperial Bank of Commerce for example, which currently has an even higher dividend yield than TD Bank.
A Word from healthylifestyleflorida.com
No matter if you you look for a new bank or a good stock investment. Learning about TD Bank will broaden your horizon, is a great way of practicing financial self-care and might even give you some financial peace.