Toronto Dominion Bank (NYSE:TD) Sets New 52-Week High – Here’s What Happened

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) shares hit a new 52-week high on Monday . The stock traded as high as $94.98 and last traded at $94.5120, with a volume of 150002 shares. The stock had previously closed at $94.65.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Natl Bk Canada upgraded Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 17th. Wall Street Zen raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Sunday. Jefferies Financial Group cut shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Raymond James Financial upgraded shares of Toronto Dominion Bank to a “hold” rating in a research note on Monday, November 24th. Finally, Royal Bank Of Canada raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.

Toronto Dominion Bank Stock Down 0.2%

The company has a market capitalization of $159.66 billion, a price-to-earnings ratio of 11.21, a P/E/G ratio of 1.32 and a beta of 0.69. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. The firm has a 50 day moving average price of $85.19 and a two-hundred day moving average price of $78.75.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. Toronto Dominion Bank had a return on equity of 13.90% and a net margin of 16.52%.The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $10.10 billion. During the same quarter in the prior year, the business posted $1.72 earnings per share. Toronto Dominion Bank’s revenue for the quarter was down .1% on a year-over-year basis. As a group, sell-side analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Friday, January 9th will be given a $1.08 dividend. This represents a $4.32 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, January 9th. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.05. Toronto Dominion Bank’s payout ratio is presently 35.82%.

Institutional Trading of Toronto Dominion Bank

Several hedge funds and other institutional investors have recently bought and sold shares of TD. Commons Capital LLC grew its position in shares of Toronto Dominion Bank by 0.7% in the 3rd quarter. Commons Capital LLC now owns 18,251 shares of the bank’s stock worth $1,459,000 after acquiring an additional 134 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in Toronto Dominion Bank by 4.8% during the third quarter. CIBC Private Wealth Group LLC now owns 2,912 shares of the bank’s stock valued at $233,000 after purchasing an additional 134 shares during the last quarter. Essex Financial Services Inc. raised its holdings in shares of Toronto Dominion Bank by 1.8% during the third quarter. Essex Financial Services Inc. now owns 7,834 shares of the bank’s stock worth $626,000 after purchasing an additional 139 shares during the period. HBK Sorce Advisory LLC lifted its position in shares of Toronto Dominion Bank by 5.0% in the 3rd quarter. HBK Sorce Advisory LLC now owns 2,953 shares of the bank’s stock worth $238,000 after buying an additional 141 shares during the last quarter. Finally, Journey Strategic Wealth LLC boosted its holdings in shares of Toronto Dominion Bank by 3.7% in the 3rd quarter. Journey Strategic Wealth LLC now owns 4,031 shares of the bank’s stock valued at $322,000 after buying an additional 145 shares during the period. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Company Profile

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.