The Toronto-Dominion Bank TD is slated to announce third-quarter fiscal 2021 (ended Jul 31) results on Aug 26, before the opening bell. While earnings are expected to have increased on a year-over-year basis, revenues are likely to have declined.In the last reported quarter, the company’s earnings surpassed the Zacks Consensus Estimate. Results were supported by higher non-interest income and negative provisions. However, lower net interest income (NII) and rise in expenses were headwinds.Toronto-Dominion has an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 21.6%. Toronto Dominion Bank The Price and EPS Surprise Toronto Dominion Bank The price-eps-surprise | Toronto Dominion Bank The QuoteThe Zacks Consensus Estimate for earnings has been stable over the past 30 days at $1.56 per share, which indicates a jump of 71.4% from the prior-year reported number.The consensus estimate for sales is pegged at $7.72 billion, suggesting a fall of almost 1% from the year-ago quarter. Factors at PlayNII: Demand for loans remained subdued in the May-July quarter, mainly due to declining commercial lending. This, along with a low interest rate environment, is expected to have hurt the company’s NII growth.Investment Banking Revenues: As economic and business activities resumed, deal making continued at a record pace in the to-be-reported quarter. So, with an increase in global M&A volumes, Toronto-Dominion’s advisory fees are likely to have been positively impacted.IPO activities were high in the to-be-reported quarter. Also, as companies continued to build liquidity, there was a rise in follow-up equity and debt issuances. Hence, growth in Toronto-Dominion’s underwriting fees is likely to have been decent in the fiscal third quarter.Trading Income: Unlike the prior quarters, wherein significant market volatility and client activity supported trading revenues, market normalization and reduced volatility are expected to have dampened overall trading business this time around. Thus, Toronto-Dominion’s trading revenues are likely to have been subdued in the to-be-reported quarter.Provisions: With continued improvement in the macroeconomic condition in the to-be-reported quarter, increased vaccination drive and support from government and central bank, we expect this to have been another quarter of reserve releases for Toronto-Dominion.What Our Model SaysOur proven model does not conclusively predict an earnings beat for Toronto-Dominion this time around. This is because it doesn’t have the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better.You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Earnings ESP: Earnings ESP for Toronto-Dominion is 0.00%.Zacks Rank: The company currently has a Zacks Rank #4 (Sell).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Earnings Release Dates of Other Canadian BanksBank of Montreal BMO is scheduled to release quarterly numbers on Aug 24, while Royal Bank of Canada RY and Canadian Imperial Bank of Commerce CM will release results on Aug 25 and Aug 26, respectively. Tech IPOs With Massive Profit Potential: Last years top IPOs surged as much as 299% within the first two months. With record amounts of cash flooding into IPOs and a record-setting stock market, this year could be even more lucrative. See Zacks’ Hottest Tech IPOs 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