Latest news with #TD
Yahoo
an hour ago
- Business
- Yahoo
Fiserv Stock Tumbles As Outlook Softens Despite Deal With TD
Fiserv, Inc (NYSE:FI) stock tumbled Wednesday after it reported fiscal second-quarter 2025 results. The company reported quarterly revenue growth of 8% year-over-year to $5.52 billion, beating the analyst consensus estimate of $5.20 billion. Growth was 10% in the Merchant Solutions segment and 7% in the Financial Solutions segment. Adjusted revenue increased 8% year-over-year to $5.20 billion. The financial technology and services provider's adjusted EPS of $2.47 beat the analyst consensus estimate of $2.43. The quarterly adjusted EPS increased by 16% over the same period last revenue grew 8%, led by 9% growth in Merchant Solutions and 7% in Financial Solutions. View more earnings on FI The adjusted operating margin increased by 120 bps Y/Y to 39.6%. Adjusted operating margin decreased 200 basis points Y/Y to 34.6% in the Merchant Solutions segment. The margin increased 280 bps Y/Y to 48.7% in the Financial Solutions segment. Acquistion Fiserv expanded its presence in Canada by signing a multi-year Strategic Managed Services agreement with TD Bank Group. The agreement enables TD Merchant Solutions to adopt Fiserv's technology, including the Clover point-of-sale system, for its merchant operations. The deal strengthens Fiserv's Canadian ties and opens new opportunities to scale Clover hardware and software solutions. Fiserv also signed a purchase agreement to acquire part of TD's Canadian merchant processing business, adding about 3,400 merchant relationships and 30,000 locations to its portfolio. These merchants will migrate to Fiserv's processing platform and use Clover, reinforcing the company's commitment to serving small and mid-sized businesses with innovative technology. The companies expect the transaction to close later this year, pending customary approvals. Financial details remain undisclosed. FY25 Outlook Fiserv expects organic revenue growth of approximately 10% (prior 10%-12%) and adjusted EPS outlook of $10.15-$10.30 (prior $10.10-$10.30), representing growth of 15%-17% Y/Y versus the $10.20 analyst consensus estimate. Fiserv stock plunged over 19% year-to-date. S&P 500 Index (where Fiserv is a constituent) gained over 7%. Multiple Wall Street firms slashed their price forecasts on the stock in 2025. Price Action: FI stock is down 21.30% at $130.65 at last check Wednesday. Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? FISERV (FI): Free Stock Analysis Report This article Fiserv Stock Tumbles As Outlook Softens Despite Deal With TD originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Cision Canada
3 hours ago
- Business
- Cision Canada
TD Announces Strategic Relationship with Fiserv to Enhance TD Merchant Solutions Offering in Canada Français
Transaction simplifies operating model and improves financial performance TORONTO, July 23, 2025 /CNW/ - TD Bank Group ("TD") (TSX: TD) (NYSE: TD) announced today that it has finalized a strategic relationship with Fiserv, a leading global provider of payments and financial services technology, to elevate the client experience within the TD Merchant Solutions business in Canada (" TDMS") and continue bringing best-in-class solutions to its Canadian clients. The relationship will also simplify TDMS and reduce costs, improving financial performance for TD over time. TDMS will provide Fiserv's advanced Clover product offering, payment processing and servicing to its clients. The transition for clients will be seamless as they will continue to have access to merchant solutions enabling them to accept credit and debit payments. "At TD, we are focused on helping our business clients succeed," said Barbara Hooper, Group Head, Canadian Business Banking, TD Bank Group. "This strategic relationship with Fiserv will directly benefit our clients by combining Clover, Fiserv's innovative merchant product offering, with our business banking solutions, providing our merchants with the capability to leverage the latest technology to process payments and grow." As part of this new strategic relationship, TD and Fiserv are also entering into a purchase agreement, which will include Fiserv acquiring a part of the TD merchant processing business relating to a select portfolio of approximately 3,400 TDMS merchant group contracts with 30,000 merchant locations. This divestiture, which is not material to TD, is subject to customary closing conditions and is expected to close in late fiscal 2025, at which time the agreement reflecting TD's strategic relationship with Fiserv will also become effective. About TD Bank Group The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves over 27.9 million customers in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Retail, including TD Bank, America's Most Convenient Bank®, TD Auto Finance U.S., and TD Wealth (U.S.); Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among the world's leading online financial services firms, with more than 18 million active online and mobile customers. TD had $2.1 trillion in assets on April 30, 2025. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto Stock Exchange and New York Stock Exchange. Caution Regarding Forward-Looking Statements From time to time, the Bank (as defined in this document) makes written and/or oral forward-looking statements, including in this document, in other filings with Canadian regulators or the United States (U.S.) Securities and Exchange Commission (SEC), and in other communications. In addition, representatives of the Bank may make forward-looking statements orally to analysts, investors, the media, and others. All such statements are made pursuant to the "safe harbour" provisions of, and are intended to be forward-looking statements under, applicable Canadian and U.S. securities legislation, including the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements made in this document, the Management's Discussion and Analysis ("2024 MD&A") in the Bank's 2024 Annual Report under the heading "Economic Summary and Outlook", under the headings "Key Priorities for 2025" and "Operating Environment and Outlook" for the Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking segments, and under the heading "2024 Accomplishments and Focus for 2025" for the Corporate segment, and in other statements regarding the Bank's objectives and priorities for 2025 and beyond and strategies to achieve them, the regulatory environment in which the Bank operates, and the Bank's anticipated financial performance. Forward-looking statements are typically identified by words such as "will", "would", "should", "believe", "expect", "anticipate", "intend", "estimate", "forecast", "outlook", "plan", "goal", "target", "possible", "potential", "predict", "project", "may", and "could" and similar expressions or variations thereof, or the negative thereof, but these terms are not the exclusive means of identifying such statements. By their very nature, these forward-looking statements require the Bank to make assumptions and are subject to inherent risks and uncertainties, general and specific. Especially in light of the uncertainty related to the physical, financial, economic, political, and regulatory environments, such risks and uncertainties – many of which are beyond the Bank's control and the effects of which can be difficult to predict – may cause actual results to differ materially from the expectations expressed in the forward-looking statements. Risk factors that could cause, individually or in the aggregate, such differences include: strategic, credit, market (including equity, commodity, foreign exchange, interest rate, and credit spreads), operational (including technology, cyber security, process, systems, data, third-party, fraud, infrastructure, insider and conduct), model, insurance, liquidity, capital adequacy, compliance and legal, financial crime, reputational, environmental and social, and other risks. Examples of such risk factors include general business and economic conditions in the regions in which the Bank operates; geopolitical risk (including policy, trade and tax-related risks and the potential impact of any new or elevated tariffs or any retaliatory tariffs); inflation, interest rates and recession uncertainty; regulatory oversight and compliance risk; risks associated with the Bank's ability to satisfy the terms of the global resolution of the investigations into the Bank's U.S. Bank Secrecy Act (BSA)/anti-money laundering (AML) program; the impact of the global resolution of the investigations into the Bank's U.S. BSA/AML program on the Bank's businesses, operations, financial condition, and reputation; the ability of the Bank to execute on long-term strategies, shorter-term key strategic priorities, including the successful completion of acquisitions and dispositions and integration of acquisitions, the ability of the Bank to achieve its financial or strategic objectives with respect to its investments, business retention plans, and other strategic plans; technology and cyber security risk (including cyber-attacks, data security breaches or technology failures) on the Bank's technologies, systems and networks, those of the Bank's customers (including their own devices), and third parties providing services to the Bank; data risk; model risk; fraud activity; insider risk; conduct risk; the failure of third parties to comply with their obligations to the Bank or its affiliates, including relating to the care and control of information, and other risks arising from the Bank's use of third-parties; the impact of new and changes to, or application of, current laws, rules and regulations, including without limitation consumer protection laws and regulations, tax laws, capital guidelines and liquidity regulatory guidance; increased competition from incumbents and new entrants (including Fintechs and big technology competitors); shifts in consumer attitudes and disruptive technology; environmental and social risk (including climate-related risk); exposure related to litigation and regulatory matters; ability of the Bank to attract, develop, and retain key talent; changes in foreign exchange rates, interest rates, credit spreads and equity prices; downgrade, suspension or withdrawal of ratings assigned by any rating agency, the value and market price of the Bank's common shares and other securities may be impacted by market conditions and other factors; the interconnectivity of financial institutions including existing and potential international debt crises; increased funding costs and market volatility due to market illiquidity and competition for funding; critical accounting estimates and changes to accounting standards, policies, and methods used by the Bank; and the occurrence of natural and unnatural catastrophic events and claims resulting from such events. The Bank cautions that the preceding list is not exhaustive of all possible risk factors and other factors could also adversely affect the Bank's results. For more detailed information, please refer to the "Risk Factors and Management" section of the 2024 MD&A, as may be updated in subsequently filed quarterly reports to shareholders and news releases (as applicable) related to any events or transactions discussed under the headings "Significant Events", "Significant and Subsequent Events" or "Update on U.S. Bank Secrecy Act (BSA)/Anti-Money Laundering (AML) Program Remediation and Enterprise AML Program Improvement Activities" in the relevant MD&A, which applicable releases may be found on All such factors, as well as other uncertainties and potential events, and the inherent uncertainty of forward-looking statements, should be considered carefully when making decisions with respect to the Bank. The Bank cautions readers not to place undue reliance on the Bank's forward-looking statements. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2024 MD&A under the headings "Economic Summary and Outlook" and "Significant Events", under the headings "Key Priorities for 2025" and "Operating Environment and Outlook" for the Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking segments, and under the heading "2024 Accomplishments and Focus for 2025" for the Corporate segment, each as may be updated in subsequently filed quarterly reports to shareholders and news releases (as applicable). Any forward-looking statements contained in this document represent the views of management only as of the date hereof and are presented for the purpose of assisting the Bank's shareholders and analysts in understanding the Bank's financial position, objectives and priorities and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate for other purposes. The Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time by or on its behalf, except as required under applicable securities legislation.
Business Wire
3 hours ago
- Business
- Business Wire
Fiserv Announces Strategic Relationship With TD
MILWAUKEE--(BUSINESS WIRE)--Fiserv, Inc. (NYSE: FI), a leading global provider of payments and financial services technology, today announced that it has signed a multi-year Strategic Managed Services program agreement with TD Bank Group, where TD Merchant Solutions will utilize Fiserv technology, including Clover, the world's smartest point-of-sale system, for its merchant business. This agreement deepens Fiserv's relationships in Canada and creates new opportunities to scale Clover hardware and SaaS solutions. In addition, Fiserv entered into a purchase agreement with TD to acquire a part of TD's merchant processing business in Canada. The acquisition includes a portfolio of approximately 3,400 TD merchant relationships with 30,000 merchant locations that will migrate to Fiserv's processing system and Clover. This transaction expands the footprint of the Clover platform, underscoring Fiserv's commitment to delivering innovative solutions to small and medium-sized businesses. 'We are pleased to expand Clover's reach and increase our commitment to Canada through this partnership with TD,' said Takis Georgakopoulos, Chief Operating Officer at Fiserv. 'This agreement reinforces our strong relationship with TD and underscores our shared commitment to delivering value to clients. I look forward to welcoming all businesses to our platform.' "At TD, we are focused on helping our business clients succeed," said Barbara Hooper, Group Head, Canadian Business Banking, TD Bank Group. "This strategic relationship with Fiserv will directly benefit our clients by combining Clover, Fiserv's innovative merchant product offering, with our business banking solutions, providing our merchants with the capability to leverage the latest technology to process payments and grow." The transaction is expected to close later this year, subject to customary closing conditions. Financial terms of the transaction were not disclosed. About Fiserv Fiserv, Inc. (NYSE: FI), a Fortune 500 company, moves more than money. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and Clover ®, the world's smartest point-of-sale system and business management platform. Fiserv is a member of the S&P 500 ® Index, one of TIME Magazine's Most Influential Companies™ and one of Fortune ® World's Most Admired Companies™. Visit and follow on social media for more information and the latest company news. FI-G
Yahoo
15 hours ago
- Business
- Yahoo
TD vs. IBN: Which Stock Should Value Investors Buy Now?
Investors interested in Banks - Foreign stocks are likely familiar with Toronto-Dominion Bank (TD) and ICICI Bank Limited (IBN). But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look. Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a proven strategy that targets companies with positive earnings estimate revision trends, while our Style Scores work to grade companies based on specific traits. Right now, Toronto-Dominion Bank is sporting a Zacks Rank of #2 (Buy), while ICICI Bank Limited has a Zacks Rank of #3 (Hold). This system places an emphasis on companies that have seen positive earnings estimate revisions, so investors should feel comfortable knowing that TD is likely seeing its earnings outlook improve to a greater extent. But this is just one piece of the puzzle for value investors. Value investors also try to analyze a wide range of traditional figures and metrics to help determine whether a company is undervalued at its current share price levels. Our Value category grades stocks based on a number of key metrics, including the tried-and-true P/E ratio, the P/S ratio, earnings yield, and cash flow per share, as well as a variety of other fundamentals that value investors frequently use. TD currently has a forward P/E ratio of 13.03, while IBN has a forward P/E of 20.80. We also note that TD has a PEG ratio of 1.68. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. IBN currently has a PEG ratio of 2.23. Another notable valuation metric for TD is its P/B ratio of 1.58. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. By comparison, IBN has a P/B of 3.14. Based on these metrics and many more, TD holds a Value grade of B, while IBN has a Value grade of C. TD stands above IBN thanks to its solid earnings outlook, and based on these valuation figures, we also feel that TD is the superior value option right now. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Toronto Dominion Bank (The) (TD) : Free Stock Analysis Report ICICI Bank Limited (IBN) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19 hours ago
- Business
- Yahoo
OCC bans former Webster general counsel, ex-TD, JPMorgan bankers
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. The Office of the Comptroller of the Currency has banned four former bankers from future work in the industry, the agency disclosed Thursday. James Blose, once general counsel at Stamford, Connecticut-based Webster Bank, was barred from the industry after pleading guilty to bank fraud and engaging in illegal monetary transactions and being sentenced in April to four years in prison. Blose was involved in a decade-long embezzlement scheme that used his attorney trust accounts to cover personal expenses and transfer funds to accounts in the names of businesses he had created and controlled. Through this scheme, Blose was found to have stole roughly $7.4 million from his employers and used the money for his personal benefit, including buying a vacation property, luxury vehicles, and private jet charters. If the prohibition order is violated, Blose could face fines of up to $1 million or imprisonment for up to five years, or both. It could also lead to additional civil money penalties, the OCC noted. However, Blose has the right to request an informal hearing, which must be submitted in writing and received within 30 days of order service, according to the OCC. Lacey Ann Henry, a former teller manager at the Trooper, Pennsylvania, branch of TD from June 2020 to February 2022, accessed confidential customer information and withdrew at least $41,500 from customer checking accounts in November and December 2021, for her personal benefit, the OCC found. Henry 'engaged in violations of law and unsafe and unsound practices, which resulted in financial loss to the Bank and financial gain to Respondent, and demonstrated personal dishonesty,' the agency said in the prohibition order. Alonso Missael Gonzalez Ibarra, a former teller and associate operations lead at a Portland, Oregon, branch of JPMorgan Chase, stole $36,768 between June and October 2022 from two ATMs. In an attempt to cover up his theft, Ibarra, who worked at JPMorgan for roughly seven years, altered the totals in the ATM records to make the ATMs appear to be in balance, the OCC found. Cricel Santamaria, a former client service representative at a Stamford location of Webster Bank, obtained 62 images of checks from the lender's internal systems and sold them online between October 2021 and April 2022, the OCC found. The total reported check sale fraud was $237,374, while the bank lost about $108,000, the agency said.
