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Toronto Dominion Bank

All articles tagged with #toronto dominion bank

finance2 years ago•0 min saved

TD Bank's Q4 Profit Falls Below Expectations Due to Job Cuts and Credit Provisions

Toronto-Dominion Bank reported lower-than-expected earnings in the fiscal fourth quarter due to higher provisions for potentially souring loans and a restructuring charge related to a planned 3% reduction in its workforce. The bank's provisions for credit losses amounted to C$878 million, exceeding analysts' expectations of C$844.5 million. Adjusted earnings per share were C$1.83, falling short of the average estimate of C$1.90 from analysts.

via Bloomberg|

#credit-provisions #earnings #finance

business2 years ago•0 min saved

TD Bank and First Horizon Terminate $13 Billion Merger, First Horizon Stock Plummets.

Toronto-Dominion Bank and First Horizon have called off their merger agreement due to the economic uncertainty caused by the pandemic. The two banks had announced the merger in November 2019, but have now mutually agreed to terminate the deal.

via The Wall Street Journal|

#banking #business #first-horizon

finance2 years ago•3 min saved

TD Bank Takes Risky Bet as Biggest Bank Short with $3.7 Billion at Stake

Short sellers have increased their bearish bets against Toronto-Dominion Bank, making it the biggest short in the banking industry globally with roughly $3.7 billion on the line. This is partly due to general skittishness towards the banking sector and concerns about TD's exposure to Canada's housing slowdown and its ties to the US market through its stake in Charles Schwab Corp. TD's position atop the list of biggest bank shorts comes as it seeks to close a $13.4 billion deal for First Horizon Corp.

via Yahoo Finance|

#banking-sector #charles-schwab-corp #finance