2009-10-17 00:32:45 -
SADIF-Investment Analytics has applied its StockMarks™ stock-rating system to TD Bank Financial Group and produced a research report, rating the company's attractiveness to long-term investors. Mira, Portugal – October 16th, 2009 – SADIF Investment Analytics today announced the release of a new equity research report covering TD Bank Financial Group (TD). The report utilizes SADIF's powerful StockMarks™ stock rating system and is required reading for any current or potential TD Bank Financial Group investor.
Report Summary: TD Bank Financial Group is Canada's second largest bank by
deposits after Royal Bank of Canada. It is also the sixth largest bank in North America. Like its Canadian rivals, TD took advantage of the US crisis to make acquisitions. TD purchased New Jersey-based Commerce Bancorp in March of 2008 and have since combined it with its TD Banknorth operations as TD Bank, America's Most Convenient Bank. In the company's fiscal third quarter earnings announcement for the three months to July 31st, TD reported that net income fell 8.5% from CAD 997M to CAD 912M when compared to the same period of TD2008. Net income was up 17% after adjusting for changes in fair value of credit default swaps and derivatives, amortization of intangibles, and restructuring charges related to the bank's acquisition of Commerce Bank in 2008. TD's Wholesale Banking unit and Canadian Personal and Commercial Banking unit provided the strongest boost to the company's results during the quarter while the Wealth Management and US banking units weighed on the company's earnings. The bank's net interest income increased 16% compared to the year-earlier period due to increased loans. Ed Clark, President and CEO of TD Bank Financial Group, stated that TD's “very strong capital position has allowed us to provide access to credit, filling the gaps left by those who have exited the lending market”. Canada's banks are believed to be among the most stable in the world following the global economic crisis. However, when assessing TD as a long-term investment, we should take into account the company's underlying long-term fundamentals. We can assess TD's fundamentals through the use of the StockMarks framework. TD currently has an overall long-term investment-attractiveness rating (Total StockMark or SMT) of 56, rating the bank above the Canadian average. This rating places TD third among the Big Five.
The complete report breaks down the Total StockMark into its three components – business, management and price, performing a thorough analysis of TD Bank Financial Group for long-term investors.
A summary of the StockMarks™ ratings for TD Bank Financial Group is available here:
sadifanalytics.com/stockmarks/company.php?ticker=TD&cod_country= ..
The report has been distributed to Reuters, and forwarded to Yahoo Finance and FT.com. It is available under 'Analyst Reports' from these websites, from multiple professional platforms including Reuters Knowledge, TheMarkets.com, Thomson Research and Capital IQ or directly from SADIF-Investment Analytics at:
sadifanalytics.com/stockmarks/article/hist_article.php?cod_count ..
About SADIF-Investment Analytics:
SADIF-Investment Analytics is an independent investment research company covering sixteen different markets and over 12,000 companies. The StockMarks™ system is based on proven investment principles and is designed to drive long-term shareholder returns.
