Banking Can Be This Comfortable
TD Bank offers a range of financial products and services through TD Canada Trust, TD Bank, TD commercial Bank, TD commercial Banking and TD Auto finance. The Bank serves approximately 20.5 million customers in four businesses operating in a number of locations in financial centers worldwide: Canadian Personal and Commercial Banking; Wealth Management; U.S. Personal and Commercial Banking; and Wholesale Banking.
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In April 2013 we bought a full position in TD at $80.78. We have reached our high valuation target; therefore we will exit and wait for the next opportunity. Based on the current earnings profile, TD would be at a low valuation if it traded at $80 per share.
Total return on this trade including accumulated dividends reached +18.9% in a little over six months.
EXIT AT HIGH VALUATION IN TD BANK AT $94.40 (TD-T, $CAD 94.40) FULL POSITION
MKT CAP: $USD 86.5B POSITION SIZE: FULL (5.0%) P/E: 12.8X DIV: $3.40 (3.6%) P/E/G: 1.99X Debt: N/A RETURN ON CAPITAL: N/A EARNINGS YIELD: 7.1% 5 YR EPS Growth rate: 6.4% CURRENT EPS: $7.38 2014 EST. EPS: $8.46 2015 EST. EPS: $39.26
