TORONTO DOMINION BANK
In the published model solve dated 2026-Q2, anchored at $119.38, TORONTO DOMINION BANK (TD) is priced for 15.0% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 24, 2026 from SEC EDGAR filings.
• The Canadian half is doing the work: Canadian Personal and Commercial Banking earned C$1,925 million in the quarter to April 30, 2026, up 15% on the year, while the US bank turned in an adjusted return on equity of 9.6% [Source: TD Bank Group Q2 2026 earnings news release, May 28, 2026]. • The binding constraint is legal rather than commercial: TD's US banking subsidiaries sit under an OCC-imposed asset cap of $434 billion attached to the 2024 anti-money-laundering resolution, with roughly US
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811 institutional managers reported holding TD in 13F filings for the quarter ended 2026-03-31. Together they hold about 47% of the company; the top 10 hold 28%. 92 opened new positions that quarter. Held by Vanguard Group, Geode Capital, MFS Investment Management, among others. On the short side, 6.1M shares were sold short as of the 2026-06-15 count, about 0.4% of shares outstanding (2.4 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
TD has cut its share count 7.6% over the past five years. It pays a dividend, and has paid one every year in our records (8 and counting), raised 2 years straight. Cash returned over the past three years: $14.46B in dividends.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 24, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.