Toronto Dominion Bank (The) (NYSE:TD – Get Free Report) (TSE:TD)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $120.98 and last traded at $118.8230, with a volume of 89693 shares changing hands. The stock had previously closed at $119.49.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Scotiabank upgraded shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. Weiss Ratings cut shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 11th. Royal Bank Of Canada increased their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Finally, Raymond James Financial raised shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Toronto Dominion Bank has an average rating of “Moderate Buy” and a consensus target price of $156.00.
Get Our Latest Stock Report on Toronto Dominion Bank
Toronto Dominion Bank Stock Down 0.3%
Toronto Dominion Bank (NYSE:TD – Get Free Report) (TSE:TD) last issued its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.11. The firm had revenue of $11.80 billion during the quarter, compared to the consensus estimate of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The company’s revenue for the quarter was down 31.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.97 EPS. As a group, research analysts expect that Toronto Dominion Bank will post 6.92 earnings per share for the current year.
Toronto Dominion Bank Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Friday, July 10th. Toronto Dominion Bank’s dividend payout ratio is 50.55%.
Institutional Investors Weigh In On Toronto Dominion Bank
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bayban bought a new position in shares of Toronto Dominion Bank in the fourth quarter worth approximately $28,000. Harvest Fund Management Co. Ltd raised its stake in Toronto Dominion Bank by 112.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock valued at $30,000 after purchasing an additional 168 shares during the period. CBIZ Investment Advisory Services LLC bought a new position in shares of Toronto Dominion Bank during the fourth quarter worth $34,000. Brown Lisle Cummings Inc. grew its position in shares of Toronto Dominion Bank by 88.4% during the first quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock valued at $38,000 after purchasing an additional 191 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in Toronto Dominion Bank by 660.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock worth $38,000 after acquiring an additional 456 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.
About Toronto Dominion Bank
Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.
TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.
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