TD Bank Q2 Earnings: Still A Buy, For Now

The Toronto-Dominion Bank delivered strong Q2 results, beating revenue and EPS estimates with record earnings and robust profitability metrics. Despite recent AML-related fines and higher valuation multiples, TD maintains a healthy balance sheet, high ROE, and strong efficiency, supporting continued earnings growth. Management projects mid-single-digit expense growth, $500M AML remediation costs in 2026, $2.9B U.S. net income, and plans to complete a $7B buyback.