01:02 PM EDT, 05/24/2024 (MT Newswires) -- TD reported adjusted cash EPS of $2.04 (ex. U.S. AML investigation provisions, U.S. civil matter penalties and restructuring charges) which beat BMO/consensus estimates at $1.84/$1.85.

BMO analyst Sohrab Movahedi noted the broad-based beat, with results above expectations in Wealth & Insurance (higher insurance premiums; market appreciation) and Wholesale Banking (higher lending, underwriting and trading revenue), notwithstanding higher PCL of 47bps (vs. BMO at 40bps).

CET1 ratio was 13.4% (down 50bps q/q).

Maintain market perform, target lowered to $84 on lower target multiple.

Price: 76.99, Change: +1.41, Percent Change: +1.87