Toronto-Dominion Bank is performing well for this year’s third quarter, considering the rise of its net income and the rating of the analysts for its stock. Toronto-Dominion Bank (TD Bank) is Canada’s second largest lender. Knowing that it is a big establishment, analysts are expecting something from it. That is why they gave the company a high consensus estimate on its stock. However, it turned out that the consensus estimate of these analysts seem to be a little lower than the actual result.
The second largest lender of Canada surpassed the analysts’ consensus estimate on its net income. It also has a higher target price. The net income of TD bank rose from 79 Canadian cents per share to C$1.11 per share. This means that its total net income rose from C$1.52 billion to C$2.1 billion. This alone proves how strong the stock of Toronto-Dominion Bank is for this quarter.
According to Thomson Reuters, analysts only expect C$1.09 per share for the TD Bank stock. However, it went up to C$1.15 per share, without even including the special items yet. Based on TD Bank’s quarterly report, it is not a surprise to hear a lot of analysts giving the TD Bank an outperform rating.