TD Bank expected to pay $3 billion in fines and limit growth in DOJ settlement: Report
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 10 2024
0mins
Source: CNBC
TD Bank's Legal Troubles: TD Bank is expected to pay $3 billion in fines to the Department of Justice for failing to monitor money laundering activities linked to drug cartels, alongside accepting growth restrictions similar to those imposed on Wells Fargo.
Previous Penalties: Earlier this year, TD Bank was fined nearly $28 million by the Consumer Financial Protection Bureau for providing inaccurate information to consumer reporting agencies and delaying corrections.
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Analyst Views on TD
Wall Street analysts forecast TD stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for TD is 92.14 USD with a low forecast of 84.94 USD and a high forecast of 96.46 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
6 Buy
4 Hold
1 Sell
Moderate Buy
Current: 94.920
Low
84.94
Averages
92.14
High
96.46
Current: 94.920
Low
84.94
Averages
92.14
High
96.46
About TD
The Toronto-Dominion Bank (the Bank) operates as a bank in North America. The Bank, along with subsidiaries, operates across four main business segments: Canadian Personal and Commercial Banking, the United States (U.S.) Retail, Wealth Management and Insurance, and Wholesale Banking. The Canadian Personal and Commercial Banking, which includes TD Canada Trust and TD Auto Finance Canada. The U.S. Retail segment includes TD Bank, a Convenient Bank, TD Auto Finance U.S., and TD Wealth (U.S.). The Wealth Management and Insurance segment includes TD Wealth (Canada), TD Direct Investing, and TD Insurance. The Wholesale Banking segment includes TD Securities and TD Cowen. The Bank offers a wide range of products and services, including banking accounts, financing, investment solutions, cash management (information, consolidation and reporting, payables, and receivables), U.S. banking services, global services, business credit life insurance, wealth advisory services and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- ETF AUM Milestone: TDAM's assets under management (AUM) for ETFs surpassed $30 billion for the first time, indicating its growing influence in the rapidly expanding ETF market, which is expected to attract more investor interest in its offerings.
- Client-Centric Commitment: TDAM emphasizes placing clients at the center of its operations, dedicated to helping them achieve goals such as retirement, education funding, and generational wealth, thereby enhancing client trust and brand loyalty, which drives long-term business growth.
- Outstanding Risk-Adjusted Returns: The FundGrade A+® Awards are based on risk-adjusted performance, and TDAM's multiple funds excelled in their respective categories, further validating the effectiveness and sustainability of its investment strategies, enhancing its competitive advantage in the industry.
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- Addressing Flu Season Challenges: With the onset of flu season, the introduction of Kix360° helps families receive timely expert guidance, reducing unnecessary emergency room visits and ensuring children remain healthy during peak illness periods.
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- Market Reaction: Following Trump's announcement, major credit card and issuer stocks fell in premarket trading on Monday, with Capital One Financial down 8.8% and American Express down 4.4%, indicating the market's sensitivity to potential policy changes.
- Industry Concerns: A joint statement from the American Bankers Association and other financial institutions warned that implementing this rate cap could negatively impact consumers and lead to decreased liquidity in the credit market, thereby affecting banks' profitability.
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- Unit Distribution Details: For instance, the TD Target 2029 Investment Grade Bond ETF has a reinvested distribution of $0.01020 per unit, reflecting the company's commitment to delivering returns to investors.
- Tax Treatment Transparency: The actual taxable amounts of reinvested and cash distributions for 2025 will be reported to brokers via CDS Clearing and Depository Services Inc. within the first 60 days of 2026, ensuring investors are informed about tax implications in a timely manner.
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- Existing Program Review: As of December 31, 2025, TD Bank had repurchased 76.58 million shares under the existing program, spending approximately $7.53 billion, indicating the company's proactive measures in capital management and its focus on shareholder value.
- Future Outlook: The introduction of the new program, combined with funds obtained from the sale of its equity investment in Charles Schwab, is expected to provide greater flexibility for TD Bank's future capital allocation and shareholder returns, helping it maintain an edge in a competitive market.
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- Record Award Count: TD Asset Management (TDAM) achieved a historic high by winning 24 awards at the 2025 FundGrade A+® Awards, marking the 14th consecutive year of recognition, which solidifies its leadership position in the investment management sector.
- ETF AUM Milestone: TDAM's assets under management (AUM) for ETFs surpassed $30 billion for the first time, indicating its growing influence in the rapidly expanding ETF market, which is expected to attract more investor interest in its offerings.
- Client-Centric Commitment: TDAM emphasizes placing clients at the center of its operations, dedicated to helping them achieve goals such as retirement, education funding, and generational wealth, thereby enhancing client trust and brand loyalty, which drives long-term business growth.
- Outstanding Risk-Adjusted Returns: The FundGrade A+® Awards are based on risk-adjusted performance, and TDAM's multiple funds excelled in their respective categories, further validating the effectiveness and sustainability of its investment strategies, enhancing its competitive advantage in the industry.
See More
KixCare Partners with TD to Offer Pediatric Care Access for Families
- Pediatric Care Innovation: KixCare's launch of the Kix360° program offers TD customers prioritized access, ensuring families can quickly obtain pediatric healthcare services from home, significantly enhancing children's health management efficiency.
- 24/7 Virtual Care: Kix360° provides around-the-clock virtual care for children under 18, resolving over 90% of cases without in-person visits, alleviating pressure on families and the healthcare system.
- Addressing Flu Season Challenges: With the onset of flu season, the introduction of Kix360° helps families receive timely expert guidance, reducing unnecessary emergency room visits and ensuring children remain healthy during peak illness periods.
- Integrated Family Resources: Kix360° membership covers all children in a household, offering access to expert networks, parenting tips, and health resources, simplifying families' access to personalized care and enhancing overall health management experience.
See More
Trump Proposes 10% Credit Card Rate Cap, Bank Stocks Decline
- Rate Cap Proposal: President Trump proposed a cap on credit card interest rates at 10%, which drew immediate opposition from major banking groups, who argue that this policy could push consumers towards less regulated and more costly alternatives, potentially destabilizing the credit card market.
- Market Reaction: Following Trump's announcement, major credit card and issuer stocks fell in premarket trading on Monday, with Capital One Financial down 8.8% and American Express down 4.4%, indicating the market's sensitivity to potential policy changes.
- Industry Concerns: A joint statement from the American Bankers Association and other financial institutions warned that implementing this rate cap could negatively impact consumers and lead to decreased liquidity in the credit market, thereby affecting banks' profitability.
- Stock Volatility: The proposed policy led to declines in stock prices for several large banks, including JPMorgan Chase and Wells Fargo, reflecting investor concerns about future earnings prospects and potentially weakening market confidence.
See More
TD Asset Management Announces 2025 ETF Reinvested Distributions
- Reinvestment Distribution Announcement: TD Asset Management has announced the final reinvested distributions for its 2025 TD Exchange-Traded Funds, involving multiple funds, which demonstrates the company's robust performance in capital management.
- Unit Distribution Details: For instance, the TD Target 2029 Investment Grade Bond ETF has a reinvested distribution of $0.01020 per unit, reflecting the company's commitment to delivering returns to investors.
- Tax Treatment Transparency: The actual taxable amounts of reinvested and cash distributions for 2025 will be reported to brokers via CDS Clearing and Depository Services Inc. within the first 60 days of 2026, ensuring investors are informed about tax implications in a timely manner.
- Asset Management Scale: As of September 30, 2025, TD Asset Management manages a total of $527 billion in assets, showcasing its strong position and market presence in the North American investment management sector.
See More
TD Bank Plans $7 Billion Share Buyback, Ending Current Program
- Buyback Program Update: Following the completion of an $8 billion common share repurchase, TD Bank plans to terminate its current buyback program and, subject to regulatory approval, initiate a new program to repurchase up to $7 billion, involving no more than 61 million shares, demonstrating the company's ongoing commitment to shareholder returns.
- Shareholder Return Strategy: The new buyback program will represent 3.63% of the common shares outstanding as of December 31, 2025, which will not only enhance earnings per share but also bolster market confidence in TD Bank's stock, further solidifying its position in the financial market.
- Existing Program Review: As of December 31, 2025, TD Bank had repurchased 76.58 million shares under the existing program, spending approximately $7.53 billion, indicating the company's proactive measures in capital management and its focus on shareholder value.
- Future Outlook: The introduction of the new program, combined with funds obtained from the sale of its equity investment in Charles Schwab, is expected to provide greater flexibility for TD Bank's future capital allocation and shareholder returns, helping it maintain an edge in a competitive market.
See More
MT Newswires Canada Stocks To Watch: TD Bank; Boyd Group Services
See More
