The Toronto-Dominion Bank
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
CAD 61.00 | Rjvbp | Jjpmglpj |
Toronto-Dominion Earnings: Anti-Money-Laundering Losses Continue to Stack Up
Wide-moat-rated Toronto-Dominion Bank reported poor fiscal third-quarter results that were hurt by a CAD 3.36 billion increase in provisioning for potential losses as the bank’s anti-money-laundering practices are investigated by regulators. Revenue increased 9.8% from last year and 2.6% from last quarter to CAD 14.2 billion. The company lost CAD 0.14 per share compared with a gain of CAD 1.53 last year. However, adjusted for the anti-money-laundering provision as well as other restructuring and acquisition expenses, adjusted earnings per share increased 5% to CAD 2.05, which translates to a return on equity of 14.1%.