AUS
NZ
UK
CA
USA
IND
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Highlights:
- Toronto-Dominion Bank’s Q4 2022 net income was C$ 6,671 million.
- Royal Bank of Canada's net income in Q4 2022 was C$ 3,882 million.
- Toronto-Dominion Bank’s EPS was 9.49, and P/E ratio was 9.20.
The runaway inflation in 2022 and other economic headwinds plagued the equity markets across the world, including Canada. Just as the market participants began to think that pandemic setbacks were behind us, the volatility in the stock market caused havoc, with top stocks plunging one after the other. The whole year went through the bearish phase, and traders had their worst year in decades. So, how will the stock market behave in 2023?
Amid all these discussions, we look at two Canadian financial stocks and analyze their performances in recent quarters and YTD returns:
Toronto-Dominion Bank (TSX:TD)
Toronto-Dominion is a Canadian bank that does business as TD Bank Group. Headquartered in Toronto, the multinational bank and financial services company has an EPS of 9.49 and a P/E ratio of 9.20.
Toronto-Dominion posted diluted earnings per share of US$ 3.62 in the fourth quarter of 2022 compared to US$ 2.04 in the same quarter in 2021.
The bank's reported net income in the reported quarter was C$ 6,671 million versus C$ 3,781 million in the fourth quarter of 2021.
The full-year reported net income of fiscal 2022 was C$ 17,429 million compared to C$ 14,298 million in 2021.
The amortization of intangibles of Toronto-Dominion in Q4 2022 was US$ 57 million compared to C$ 74 million in Q4 2021. The TD stock returned over 4.59 per cent in the past six months while remaining the same on a YTD basis.
Royal Bank of Canada (TSX:RY)
Royal Bank of Canada is the largest bank in the country by market capitalization. It is a multinational financial services company serving more than 17 million clients through over 89,000 employees.
The total net income of the Royal Bank of Canada in the last quarter of 2022 was C$ 3,882 million compared to C$ 3,892 million in the year-ago quarter.
The bank's total revenue was C$ 12,567 million in Q4 2022 compared to C$ 12,376 million in the corresponding quarter in 2021. The RY stock grew 0.57 per cent YTD.
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Bottom line:
Investors are currently facing the dilemma of picking stocks based on past performances. The market upheavals have caused uncertainties in the equity market. So, traders should do due diligence before selecting any stock.
Please note, the above content constitutes a very preliminary observation based on the industry and is of limited scope without any in-depth fundamental valuation or technical analysis. Any interest in stocks or sectors should be thoroughly evaluated taking into consideration the associated risks.
