Analyst Consensus ?
ConsensusBuy17 ratings
Bullish952.9%
Neutral847.1%
Bearish00.0%
The Toronto-Dominion Bank · TD · FY2025 Q1 · Calendar Q1 2025
TD Bank Q1 2025: Solid Results, AML Work Remains Central
TD’s Q1 analysis supports a constructive operating picture, with Canadian volume growth, fee income, wealth activity, and U.S. balance-sheet restructuring identified as supports. The case remains conditional because AML remediation costs, regulatory oversight, expense growth, and credit-quality risks could constrain results.
Reported Before market openNYSEFinancial Services
$210.53B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $1.36
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $13.26B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+0.1%
Event window
SPY move
-1.6%
Same window
Abnormal move
+1.7%
Stock minus SPY
Volume
0.7×
Versus trailing sessions
Subsequent drift
+2.0%
Up to 20 sessions
TDSPY benchmark
Ask FN2 about TD FY2025 Q1
Transcript, numbers and history already loaded
What drove TD's +0.1% move after FY2025 Q1 earnings?What changed in TD's guidance and outlook in FY2025 Q1?Give me the bull and bear case for TD after FY2025 Q1 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 analysis, the supplied Q1 review reports stronger earnings momentum, a launched $8 billion buyback, the sale of TD’s Schwab stake, a $500 million AML remediation budget, and progress in reducing the U.S. balance sheet. The strategic review and planned Investor Day remain part of the forward agenda.
Guidance delta
Management guidance sentiment was maintained; no guidance change was identified in the supplied analysis.
Key takeaways
- The supplied analysis describes Q1 net earnings of $3.6 billion and EPS of $2.02, driven by Canadian banking volume growth and strong trading and fee income.
- TD launched an $8 billion regulatory-approved share buyback and sold its 10.1% Charles Schwab stake.
- AML remediation remains a top priority, with a $500 million budget and a new technology roadmap.
- U.S. balance-sheet restructuring reduced assets to $402 billion and borrowings to $25 billion, supporting the potential for net interest margin expansion.
- Management continues to emphasize digital and AI initiatives alongside organic growth opportunities.
Management priorities
- Execute the AML remediation program under DOJ and FinCEN oversight
- Complete U.S. balance-sheet restructuring and loan and bond sales
- Advance digital and AI tools across banking, wealth and insurance contact centers
- Allocate capital through the approved buyback and selective organic investment
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$124.61Current
$87.53Low
$89.52Average
$91.51High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 25, 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 current price $124.61. 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 | -26.6% | Feb 17, 2022 |
| Bank of America Securities | Ebrahim Poonawala | $87.53 | $71.92 | -29.8% | 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.…
Historical context
All TD earningsFinancial Services peers this season
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- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-02-20T12:50:20.254165+00:00
- Polygon adjusted daily market bars · 2026-10-25T19:50:41.418213+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-25T19:50:41.415412+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 · As of 2026-10-25. For educational purposes only; not investment advice.