TD stock faces a CAD 10 billion buyback after record Q3 earnings

Published on 10/05/2026 at 14:02 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

TD stock follows a proposed CAD 10 billion buyback announced September 30, 2026. Q3 adjusted net income rose 21 percent to CAD 4.7 billion.

TD, CA8911605092, Illustration mit AI erstellt.

TD stock (ISIN CA8911605092) closed at USD 117.90 on the NYSE on October 2, 2026, while the bank prepares a proposed CAD 10 billion share buyback announced on September 30. The program could cover 61 million shares, making capital return the clearest market theme after TD's record fiscal third quarter.

Buyback adds capital return

According to StockTitan, TD intends to repurchase up to CAD 10 billion of common shares, subject to approval from Canada's Office of the Superintendent of Financial Institutions. The bank plans to complete the program by July 2027, and all purchased shares are intended to be cancelled.

The proposed program represents up to 3.74 percent of the 1,633,130,726 common shares outstanding on August 31, 2026. TD had already completed a CAD 7 billion repurchase covering 47.2 million shares on September 25, so the new plan would extend an active capital-return strategy rather than start one from zero.

Q3 earnings set the base

The Q3 2026 earnings call transcript published by Yahoo Finance says adjusted net income reached CAD 4.7 billion, up 21 percent from the prior year, while adjusted EPS rose 26 percent to CAD 2.77 in the quarter ended July 31, 2026. Revenue grew 8 percent year over year, and return on equity reached 16 percent, up 280 basis points.

The earnings mix matters for the buyback case. U.S. Banking net income rose 11 percent year over year, the segment's net interest margin reached 3.47 percent, and management continued to expect CAD 2.9 billion of fiscal 2026 net income from that business, according to Yahoo Finance. The same call said total fiscal 2026 provisions for credit losses should land near the lower end of the prior 40 to 50 basis-point range.

Analysts see higher value

MarketBeat reports a Moderate Buy consensus from 11 analysts, with a CAD 171.08 average target and targets as high as CAD 196.00. The consensus is published against the Toronto listing, while the NYSE reference price used here is in USD, so the two currencies are not used for a percentage-distance calculation.

The NYSE quote showed a 52-week range of USD 77.95 to USD 125.46 and market capitalization of USD 193.9 billion as of October 2, 2026. The price was 6.0 percent below the 52-week high, leaving the capital-return plan and the next earnings checkpoint as the main measurable tests for the stock.

Next earnings date is set

TD's investor-relations calendar lists the Q4 2026 conference call for December 3, 2026. Until then, the proposed buyback, the 21 percent increase in adjusted net income and the bank's 16 percent return on equity provide the key figures for assessing TD stock.