TD Bank Stock Surges on Strong Q3 Earnings and US Expansion Plans

Toronto-Dominion Bank's stock price has risen to around $170.37 Canadian dollars on the Toronto Stock Exchange, driven by strong third-quarter earnings and strategic updates.

The bank reported a 21% year-over-year increase in adjusted earnings to $4.7 billion, with adjusted earnings per share rising 26% to $2.77.

TD's Wholesale Banking segment saw record earnings in the quarter, with capital markets and institutional activities driving the profit surge.

The bank is also expanding its U.S. branch presence, aiming to establish 100 new branches by the end of 2028, while targeting $750 million in cost savings in its U.S. operations.