Toronto-Dominion Bank’s TD third-quarter fiscal 2021 (ended Jul 31) adjusted net income of C$3.63 billion ($2.95 billion) increased 55.9% from the prior-year quarter.Results were aided by a rise in revenues and higher loan balance. The company also recorded a recovery of credit losses in the quarter. However, higher expenses posed an undermining factor. Probably because of this, shares of the company fell 3% on the NYSE, since the release late last week.After considering non-recurring items, net income was C$3.55 billion ($2.89 billion), soaring 57.7% year over year.Adjusted Revenues & Expenses RiseTotal revenues were C$10.71 billion ($8.71 billion), rising marginally on a year-over-year basis.NII declined 1.6% year over year to C$6 billion ($4.88 billion). However, non-interest income was C$4.71 billion ($3.83 billion), up 3.2%.Non-interest expenses increased 6.3% to C$5.58 billion ($4.54 billion).Efficiency ratio was 52% as of Jul 31, 2021, up from 49.2% on Jul 31, 2020. A rise in the efficiency ratio indicates a fall in profitability.In the quarter, the company recorded a recovery of credit losses of C$37 million ($30.1 million) against a provision of C$2.19 billion in the year-ago quarter.Balance Sheet Strong, Capital & Profitability Ratios ImproveTotal assets were C$1.7 trillion ($1.36 trillion) as of Jul 31, 2021, up 2% from the end of the second quarter of fiscal 2021. Net loans increased 1.5% on a sequential basis to C$719.2 billion ($576.2 billion) and deposits grew slightly to C$1.12 trillion ($0.9 trillion).As of Jul 31, 2021, common equity Tier I capital ratio was 14.5%, up from 12.5% on Jul 31, 2020. Total capital ratio was 18.5% compared with the prior year’s 16.5%.Return on common equity (on an adjusted basis) was 15.8%, up from 10.3% as of Jul 31, 2020.Our ViewpointSupported by a diverse geographical presence, Toronto-Dominion’s efforts toward improving revenues — both organically and inorganically — seem decent. However, rising expenses might hurt the company’s profitability to some extent. Toronto Dominion Bank The Price, Consensus and EPS Surprise Toronto Dominion Bank The price-consensus-eps-surprise-chart | Toronto Dominion Bank The QuoteToronto-Dominion currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Performance of Other Canadian BanksBank of Montreal’s BMO third-quarter fiscal 2021 (ended Jul 31) adjusted net income of C$2.29 billion ($1.86 billion) increased 82% year over year.Royal Bank of Canada’s RY third-quarter fiscal 2021 (ended Jul 31) adjusted net income was C$4.28 billion ($3.48 billion), up 34.6% from the prior-year quarter’s figure.Canadian Imperial Bank of Commerce’s CM third-quarter fiscal 2021 (ended Jul 31) adjusted earnings per share came in at C$3.93, up 45% from the prior-year quarter. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $2.4 trillion by 2028 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Recommendations from previous editions of this report have produced gains of +205%, +258% and +477%. The stocks in this report could perform even better.See these 7 breakthrough stocks 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 Bank Of Montreal (BMO): Free Stock Analysis Report Toronto Dominion Bank The (TD): Free Stock Analysis Report Royal Bank Of Canada (RY): Free Stock Analysis Report Canadian Imperial Bank of Commerce (CM): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research