Toronto-Dominion Bank (TD) reported earnings on Thur 2 March 17 (b/o)

** charts before earnings **

 

** charts after earnings **

** 10 days later  **

• Net income climbs 14% on gains in capital markets, U.S. unit
• TD is the sixth of Canada’s biggest banks to beat estimates
• The lender raised its dividend 9.1 percent to 60 cents a share.

Reports Q1 (Jan) earnings of CAD $1.33 per share, CAD $0.06 better than the Capital IQ Consensus of CAD $1.27; revenues rose 5.9% year/year to CAD $9.12 bln vs the CAD $8.47 bln Capital IQ Consensus.

Toronto-Dominion Bank said fiscal first-quarter profit rose 14 percent, beating analysts’ estimates, on gains in wholesale banking. The lender raised its dividend 9.1 percent to 60 cents a share.

Toronto-Dominion joins Canada’s five other big banks in posting profit that exceeded forecasts as improving markets helped lift trading revenue and wealth-management results. The Toronto-based bank’s earnings were driven by a 66 percent increase in capital markets, as well as improvements in U.S. retail and domestic banking.

Shares of Toronto-Dominion, which surpassed Royal Bank of Canada as the country’s largest lender by assets this quarter, have risen 5 percent this year, trailing the 6.1 percent advance of the eight-company S&P/TSX Commercial Banks Index.