Analyst Consensus ?
ConsensusBuy17 ratings
Bullish952.9%
Neutral847.1%
Bearish00.0%
The Toronto-Dominion Bank · TD · FY2025 Q2 · Calendar Q2 2025
TD's Q2 strength advances restructuring, but AML costs remain
TD's Q2 showed solid earnings and loan-volume growth while its strategic review moved toward capital redeployment and savings. The case remains balanced by AML costs, restructuring execution, and credit and trade-policy risks.
Reported Before market openNYSEFinancial Services
$203.40B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $1.25
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $13.38B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+3.3%
Event window
SPY move
+0.0%
Same window
Abnormal move
+3.3%
Stock minus SPY
Volume
2.1×
Versus trailing sessions
Subsequent drift
+6.3%
Up to 20 sessions
TDSPY benchmark
Ask FN2 about TD FY2025 Q2
Transcript, numbers and history already loaded
What drove TD's +3.3% move after FY2025 Q2 earnings?What changed in TD's guidance and outlook in FY2025 Q2?Give me the bull and bear case for TD after FY2025 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management's focus shifted from review to execution: exiting correspondent loans and winding down point-of-sale financing while investing in cards, digital and AI. A restructuring charge was taken alongside savings targets; AML spending remains elevated but is expected to decline over time.
Guidance delta
Guidance sentiment was maintained. Management continued to point to NII and NIM expansion in the second half and expects AML remediation spending to decline over time.
Key takeaways
- Q2 earnings and loan-volume growth were described as strong across major segments.
- The strategic review moved toward execution, including exits from correspondent loans and point-of-sale financing.
- TD is reallocating toward proprietary cards and digital and AI capabilities while pursuing restructuring savings.
- AML remediation and balance-sheet restructuring costs remain elevated, keeping execution and credit risks in focus.
Management priorities
- Complete the strategic review and reposition the business toward scalable growth areas.
- Expand proprietary cards, digital banking and AI capabilities.
- Complete investment-bond portfolio repositioning and pursue the expected NII benefit.
- Continue AML remediation and manage capital deployment, including the existing buyback program.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$120.39Current
$87.53Low
$89.52Average
$91.51High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 17, 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 $120.39. 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 | -24.0% | Feb 17, 2022 |
| Bank of America Securities | Ebrahim Poonawala | $87.53 | $71.92 | -27.3% | Nov 22, 2021 |
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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
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| MTB-PH M&T Bank Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.2% | — | M&T Bank: Loan Growth Holds Up as Rates Pressure Margins |
| MTB-PJ M&T Bank Corporation | FY2026 Q3 · Calendar Q4 2026 | +2.2% | — | M&T: Deposit growth supports margins as AI use expands |
| RF-PE Regions Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | +10.3% | — | Regions Financial: Fee Growth and Credit Quality Support Q3 |
| RF-PC Regions Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | +10.3% | — | Regions Financial: Fee growth supports a steady Q3 outlook |
| TFC-PI Truist Financial Corporation | FY2026 Q3 · Calendar Q4 2026 | -50.9% | — | Truist sharpens focus as Q3 EPS rises 12% |
| TRV The Travelers Companies, Inc. | FY2026 Q3 · Calendar Q4 2026 | +24.2% | +1.5% | Travelers posts strong Q3, with investment income above $900 million |
Latest beats and misses
Who reports nextBeat on EPS
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-05-08T00:02:48.254059+00:00
- Polygon adjusted daily market bars · 2026-10-17T19:00:43.835275+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-17T19:00:43.832569+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 2026-10-17. For educational purposes only; not investment advice.