TD Bank Shares Soar 3.35% on Earnings, Restructuring

Today, shares of The Toronto-Dominion Bank (TD) surged by 3.35%, reaching their highest level since February 2023, with an intraday gain of 4.35%.

The strategy of buying TD shares after they reached a recent high and holding for 1 week yielded moderate returns over the past 5 years. The annualized return was 8.91% from May 2020 to May 2025, slightly underperforming the market benchmark. With a final value of $119.69 billion, the strategy showed that TD Bank's performance was stable but not exceptionally strong compared to broader market trends.

TD Bank's recent workforce reduction and restructuring efforts have been a significant factor influencing its stock price. The bank announced plans to cut approximately 2% of its workforce as part of a broader initiative aimed at reducing costs and enhancing investments in digital and AI technologies. This restructuring is designed to streamline operations and improve overall efficiency, which has been well-received by investors.

Additionally, the bank's stock has benefited from an encouraging quarterly earnings report that exceeded market expectations. This strong financial performance has served as a catalyst for the stock's upward movement, reflecting the bank's robust financial health and strategic initiatives.

Another key factor contributing to TD Bank's earnings boost in the recent quarter was its exit from an investment in Charles Schwab. This strategic move has contributed to the bank's overall positive financial results, further bolstering investor confidence in the company's future prospects.