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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (154773)7/6/2023 3:46:14 PM
From: Goose94Read Replies (2) of 202076
 
Toronto-Dominion Bank (TD-T) top pick from Andrew Sink the Pink on BNN.ca Market Call thirsty Thursday July 6th @ 1200ET

The second largest Canadian bank by market capitalization, TD has done a commendable job establishing a significant U.S. retail banking franchise that we expect will generate out-sized returns compared to its domestic peers over time. Despite its best efforts, TD was unsuccessful in its most recent acquisition attempt for First Horizon North, a large U.S. regional banking peer. Although not the desired outcome, with $16 billion in excess capital, the highest reserve capital of the Canadian banks, TD is well positioned to pursue other U.S. acquisitions, invest for organic growth, buy back stock and/or increase the dividend. Typically trading at a mid-single-digit premium to domestic peers, uncertainty related to this acquisition has created a rare opportunity to invest in this high-quality bank at a meaningful discount.
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