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THE TORONTO-DOMINION BANK

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TD Bank Lays Out Effects of Schwab's 4Q

01/19/2022 | 07:04am EDT

By Adriano Marchese


Toronto-Dominion Bank said it expects Charles Schwab Corp.'s fourth-quarter earnings to translate into about 231 million Canadian dollars, the equivalent of US$184.6 million, of reported equity in net income of an investment in Schwab for its fiscal first quarter.

With the acquisition of TD Ameritrade by Schwab, TD received a roughly 13.5% stake in Schwab.

The Canadian banking and financial services company said adjusted to exclude acquisition-related charges of about C$13 million after tax, as well as about C$34 million after-tax of amortization of acquired intangibles, it expects equity in net income of an investment in Schwab to be about C$278 million.

TD is scheduled to release its first-quarter results on March 3.


Write to Adriano Marchese at adriano.marchese@wsj.com


(END) Dow Jones Newswires

01-19-22 0704ET

Stocks mentioned in the article
ChangeLast1st jan.
THE CHARLES SCHWAB CORPORATION 2.57% 70.59 Delayed Quote.-16.06%
THE TORONTO-DOMINION BANK 0.80% 95.99 Delayed Quote.-1.80%
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Financials
Sales 2022 42 720 M 33 517 M 33 517 M
Net income 2022 14 508 M 11 383 M 11 383 M
Net Debt 2022 - - -
P/E ratio 2022 12,0x
Yield 2022 3,73%
Capitalization 173 B 136 B 136 B
Capi. / Sales 2022 4,05x
Capi. / Sales 2023 3,60x
Nbr of Employees 90 000
Free-Float 98,8%
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Mean consensus HOLD
Number of Analysts 16
Last Close Price 95,99 CAD
Average target price 102,72 CAD
Spread / Average Target 7,02%
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Bharat B. Masrani Group President, CEO & Non-Independent Director
Kelvin Vi Luan Tran Chief Financial Officer & Senior Executive VP
Brian Michael Levitt Non-Executive Chairman
Greg Keeley Senior Executive VP-Technology & Platforms
Nadir H. Mohamed Independent Director
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