TD Bank Expects C$178M Gain From Schwab Investment In Q3, Lowers Stake To 10.1% From 12.3%
Portfolio Pulse from Benzinga Newsdesk
TD Bank Group expects a gain of approximately C$178 million from its investment in Charles Schwab for Q3, as it reduces its stake from 12.3% to 10.1%.
October 16, 2024 | 10:35 am
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NEUTRAL IMPACT
TD Bank's reduction of its stake in Charles Schwab from 12.3% to 10.1% may impact Schwab's shareholder composition.
The reduction in TD Bank's stake in Schwab could affect Schwab's shareholder dynamics, but the direct financial impact on Schwab is limited.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
TD Bank Group anticipates a gain of C$178 million from its investment in Charles Schwab for Q3, while reducing its stake from 12.3% to 10.1%.
The expected gain from Schwab's earnings is positive for TD Bank's financials, and the reduction in stake may indicate strategic repositioning.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80