TD Bank Shares Rise 0.09% Ahead of Earnings Call

The Toronto-Dominion Bank (TD) shares rose 0.09% today, marking the second consecutive day of gains, with a total increase of 0.76% over the past two days. The share price reached its highest level since January 2024, with an intraday gain of 0.43%.

The strategy of buying TD shares after they reached a recent high and holding for 1 week underperformed the market. The annualized return was -1.47%, trailing the market by 4.89%. Therefore, this strategy would not have been profitable over the past 5 years. The details are as follows:

TD Bank Group is set to announce its second-quarter financial results and host an earnings conference call on May 22, 2025. This event is anticipated to influence the stock price as investors respond to the financial performance and future outlook presented during the call.

In February 2025, TD sold its 10.1% stake in Charles Schwab Corporation, indicating a strategic shift towards divesting non-core assets and refocusing its business. This move may affect investor sentiment and the bank's stock price, signaling a change in business strategy.

CIBC has slightly lowered its price target for TD Bank to C$94 from C$95, while retaining an "Outperformer" rating. This adjustment reflects the bank's stock potential as seen by analysts, impacting investor expectations and the stock price.

TD's chief economist, Beata Caranci, has cautioned about an impending recession in Canada, with expected negative GDP growth. Economic downturns generally affect banking stocks due to potential issues in loan demand and credit quality, influencing TD's stock price.