Toronto-Dominion Bank (TSX:TD) After Its SGD 350 Million Note Sale Looks Fully Valued

Toronto-Dominion Bank (TSX:TD) recently issued SGD 350 million in fixed rate reset callable subordinated notes. Despite a strong long-term share price performance, the stock appears to be trading 6.5% above its fair value of CA$159.57 due to expected higher compliance costs impacting net margins into 2026 and 2027. Investors are advised to consider the valuation risks and explore other investment opportunities.