Analyst Consensus ?
ConsensusBuy17 ratings
Bullish952.9%
Neutral847.1%
Bearish00.0%
The Toronto-Dominion Bank · TD · FY2026 Q3 · Calendar Q3 2026
TD emphasizes growth investments alongside disciplined capital management
The supplied analysis supports a constructive but conditional view: TD's growth initiatives and resilient credit performance are positive, while execution on U.S. expansion, cost reduction, AML remediation, and margin management remains important.
Reported Before market openNYSEFinancial Services
$206.68B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$1.98
Consensus $1.74
EPS surprise
+13.8%
Reported versus consensus
Reported revenue
$12.07B
Consensus $10.70B
Revenue surprise
+12.7%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+1.4%
Event window
SPY move
+0.7%
Same window
Abnormal move
+0.7%
Stock minus SPY
Volume
1.4×
Versus trailing sessions
Subsequent drift
+1.0%
Up to 20 sessions
TDSPY benchmark
Ask FN2 about TD FY2026 Q3
Transcript, numbers and history already loaded
Why did TD rise 1.4% after beating EPS estimates in FY2026 Q3?What changed in TD's guidance and outlook in FY2026 Q3?Give me the bull and bear case for TD after FY2026 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior quarter, the supplied analysis highlights a larger U.S. expansion plan, broader AI deployment, a bigger structural cost-reduction target, and a substantial planned capital return. The emphasis remains on growth across retail, wealth, and wholesale banking while regulatory remediation continues.
Guidance delta
Maintained; the supplied analysis identifies no explicit change to guidance.
Key takeaways
- Management described record earnings supported by revenue growth, margin expansion, and loan and deposit activity across Canada and the U.S.
- Credit quality was described as solid, with impaired provisions for credit losses at the lower end of the guidance range.
- The next phase centers on U.S. branch expansion, broader AI deployment, wealth management, wholesale banking, and structural cost reduction.
- Capital strength is intended to support shareholder returns while funding organic growth.
Management priorities
- Expand the U.S. branch network and deepen the retail footprint
- Scale generative and agentic AI across credit, software development, and contact centers
- Continue structural cost reduction
- Expand wealth management and wholesale banking fee businesses
- Manage U.S. AML remediation while pursuing growth
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$122.33Previous close
$87.53Low
$89.52Average
$91.51High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 21, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Outperform | Outperform | Maintain | Jun 1, 2026 |
| Scotiabank | Sector Outperform | Sector Perform | Upgrade | May 4, 2026 |
| BMO Capital | Outperform | Market Perform | Upgrade | Dec 18, 2024 |
| B of A Securities | Neutral | Buy | Downgrade | Dec 18, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Aug 25, 2023 |
| Barclays | Equal Weight | Equal Weight | Maintain | Aug 25, 2023 |
| CFRA | Buy | Buy | Maintain | Mar 3, 2020 |
| Bank of America | Neutral | Buy | Downgrade | Aug 15, 2019 |
| Citigroup | Buy | Buy | Maintain | Sep 14, 2016 |
| CIBC | Sector Perform | Outperform | Downgrade | Aug 26, 2016 |
| Canaccord Genuity | Hold | Buy | Downgrade | Aug 25, 2016 |
| Macquarie | Outperform | Outperform | Maintain | Dec 4, 2015 |
| Rafferty Capital | Hold | Buy | Downgrade | Dec 6, 2013 |
| Rafferty | Hold | Buy | Downgrade | Dec 6, 2013 |
| National Bank Financial Inc | Outperform | Outperform | Maintain | Aug 31, 2012 |
| National Bank Financial | Outperform | Outperform | Maintain | Aug 31, 2012 |
| Stifel Nicolaus | Hold | Hold | Maintain | Aug 28, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $122.33. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| CIBC | Paul Holden | $91.51 | $83.14 | -25.2% | Feb 17, 2022 |
| Bank of America Securities | Ebrahim Poonawala | $87.53 | $71.92 | -28.4% | Nov 22, 2021 |
Track every rating change on TD the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationThe Toronto-Dominion Bank, along with its affiliated entities, delivers a comprehensive array of financial solutions and services across Canada, the United States, and various international markets. Its operations are structured into three primary divisions: Canadian Retail, U.S. Retail, and Wholesale Banking. For individual customers, the bank provides fundamental deposit products like checking, savings, and investment accounts. Businesses can access a suite of offerings including funding, investment management, cash flow solutions, international trade facilities, and everyday banking. Furthermore, TD offers point-of-sale financing options for major purchases such as automobiles and recreational vehicles. The institution also issues credit cards and facilitates payment processing. Its lending portfolio extends to real estate-backed loans, vehicle financing, and general consumer credit. Businesses, both large and small, benefit from its point-of-sale payment systems.…
Financial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% move
Get the TD recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-27T19:20:10.673167+00:00
- FN2 earnings calendar · 2026-09-21T01:23:13.071796+00:00
- Polygon adjusted daily market bars · 2026-09-21T04:20:50.712510+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-21T04:20:50.709363+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.