Toronto-Dominion Bank (NYSE:TD) Hits New 12-Month High – Time to Buy?

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $70.71 and last traded at $70.45, with a volume of 73597 shares trading hands. The stock had previously closed at $70.39.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TD. Jefferies Financial Group cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Scotiabank began coverage on Toronto-Dominion Bank in a research report on Thursday, May 15th. They issued a “sector perform” rating on the stock. Wall Street Zen upgraded Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th. Finally, Royal Bank of Canada lifted their target price on Toronto-Dominion Bank from $87.00 to $93.00 and gave the company a “sector perform” rating in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $93.00.

Toronto-Dominion Bank Stock Performance

The company has a market capitalization of $121.84 billion, a P/E ratio of 20.38, a PEG ratio of 1.95 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. The company has a fifty day moving average price of $63.59 and a two-hundred day moving average price of $59.23.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.14. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $13.36 billion. Toronto-Dominion Bank had a return on equity of 13.96% and a net margin of 7.37%. During the same period in the previous year, the business posted $2.04 earnings per share. Equities analysts forecast that The Toronto-Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be issued a dividend of $0.7568 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.73. This represents a $3.03 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Thursday, July 10th. Toronto-Dominion Bank’s payout ratio is 44.72%.

Hedge Funds Weigh In On Toronto-Dominion Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Balanced Rock Investment Advisors LLC lifted its stake in shares of Toronto-Dominion Bank by 1.1% in the first quarter. Balanced Rock Investment Advisors LLC now owns 14,983 shares of the bank’s stock worth $898,000 after acquiring an additional 163 shares during the period. Frank Rimerman Advisors LLC lifted its stake in shares of Toronto-Dominion Bank by 3.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 5,446 shares of the bank’s stock worth $290,000 after acquiring an additional 171 shares during the period. MFA Wealth Services lifted its stake in shares of Toronto-Dominion Bank by 4.5% in the first quarter. MFA Wealth Services now owns 4,179 shares of the bank’s stock worth $250,000 after acquiring an additional 179 shares during the period. Intrua Financial LLC lifted its stake in shares of Toronto-Dominion Bank by 2.4% in the first quarter. Intrua Financial LLC now owns 7,812 shares of the bank’s stock worth $468,000 after acquiring an additional 183 shares during the period. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Toronto-Dominion Bank by 14.5% in the first quarter. Hexagon Capital Partners LLC now owns 1,500 shares of the bank’s stock worth $90,000 after acquiring an additional 190 shares during the period. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.