Ownership Of TD Bank Drops…Do Investors See A Turnaround?
New York, NY, May 10th, 2024
Active bank investors award low confidence scores to TD’s management and board. Overall, TD’s CFO ranks second last amongst North American banks and the CEO fourth to last. Of course, all six big Canadian banks benefit from passive index holdings but ‘active’ big cap investors in the space say they have lost confidence in TD’s C-Suite. They are either vacating or down-sizing their TD Bank holdings accordingly. Historically, TD has been held in relatively high regard as a competitive institution, however over the last few years, big cap investors say the bank has become complacent to its eroding quality as a competitive investment target.
“We are not yet hearing anything from investors about the promise of a turnaround of confidence in TD’s current board and management,” said Matthew Lapointe, Field Director, Brendan Wood International. “Ed Clark ran a TopGun Institution for many years. The difference in TD’s current investment brand is striking to investors,” says Lapointe. By sharp contrast, RBC’s investment brand is ranked in the top two worldwide, neck and neck with JP Morgan. Will shareholders support TD’s board going forward? Do investors believe that the CEO and CFO can turn investor confidence around? Both of those questions are presently outweighed by sharp criticism and investment exits. On a positive note, investors acknowledge TD’s share buy-back program as well as the quality of TD’s underlying businesses. The Balance Sheet is robust but investors are duly aware of forthcoming penalties.
About Brendan Wood International:
Brendan Wood International (BWI), formed in 1970, is a private advisory group which originates performance investigation programs in the capital markets. Brendan Wood Partners debrief large institutional investors worldwide on a daily basis. There are 2000+ live consultations with professionals overseeing +/- $60 trillion invested in the +/- 1400 big cap companies on the BWI Index. Relying on its real time performance intelligence, BWI advises public companies, institutional and activist investors, investment banks and broker dealers on strategy, performance and recruitment of TopGun talent. The firm’s partners have formally presented at 1000+ C level strategy meetings and corporate off-sites in fifty cities. Brendan Wood founded the exclusive TopGun Club, a performance based institution. Brendan Wood International is the research provider and sub-advisor to the Brendan Wood TopGun ETF (Ticker: BWTG)
Disclaimer:
We wish to emphasize that all reports, evaluations and assessments contained herein, represent Brendan Wood International’s subjective judgment and opinions, based on our years of experience and on information obtained by us in the course of our research. Much of the factual information contained in the reports has been obtained by us from third parties on whose responses we have relied in good faith, independent verification by Brendan Wood International being, under the circumstances, impossible. While we believe that you will find our reports to be an invaluable tool in formulating your own strategies and judgments, the foregoing should be borne in mind. This report is not meant as investment advice and should not be interpreted as advising on the value of a company’s securities, the advisability of investing in, purchasing or selling any company’s securities or any other conclusion relating to investment/divestiture of a company’s securities. Finally, this report is not intended as an offer or solicitation for the purchase or sale of any company’s securities.
Contacts:
Matthew Lapointe
Field Director
Brendan Wood International
+1 416 924 8110
mlapointe@brendanwood.com
Jordan Novak
Managing Partner
Brendan Wood International
+1 416 924 8110
jnovak@brendanwood.com
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