Toronto-Dominion Bank (TD) Upgraded to Hold by Zacks Investment Research
According to Zacks, “Toronto Dominion Bank is a Canadian chartered bank and offers a wide range of business and consumer services. These services include checking and savings accounts, credit cards, mortgage and student loans,trusts, wills, estate planning,investment management services and financial and advisory services. “
Several other research analysts have also issued reports on the stock. BMO Capital Markets restated a buy rating on shares of Toronto-Dominion Bank in a research report on Thursday, February 28th. Barclays restated a hold rating on shares of Toronto-Dominion Bank in a research report on Friday, May 17th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $60.00.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, May 23rd. The bank reported $1.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.50. The firm had revenue of $10.23 billion for the quarter, compared to analyst estimates of $9.46 billion. Toronto-Dominion Bank had a net margin of 20.48% and a return on equity of 16.36%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 earnings per share. Sell-side analysts predict that Toronto-Dominion Bank will post 5.02 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be paid a $0.5511 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend is Tuesday, July 9th. Toronto-Dominion Bank’s dividend payout ratio is 44.14%.
A number of institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its stake in shares of Toronto-Dominion Bank by 64.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,568,938 shares of the bank’s stock valued at $277,791,000 after buying an additional 1,791,776 shares during the period. Morgan Stanley boosted its stake in shares of Toronto-Dominion Bank by 1.7% during the 3rd quarter. Morgan Stanley now owns 2,086,282 shares of the bank’s stock valued at $126,847,000 after buying an additional 34,114 shares during the period. Vanguard Group Inc boosted its stake in shares of Toronto-Dominion Bank by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 47,982,817 shares of the bank’s stock valued at $2,917,356,000 after buying an additional 1,273,742 shares during the period. Virtu Financial LLC boosted its stake in shares of Toronto-Dominion Bank by 229.2% during the 4th quarter. Virtu Financial LLC now owns 11,922 shares of the bank’s stock valued at $592,000 after buying an additional 8,300 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Toronto-Dominion Bank by 113.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 30,824 shares of the bank’s stock valued at $1,532,000 after buying an additional 16,389 shares during the period. 48.54% of the stock is owned by hedge funds and other institutional investors.
Toronto-Dominion Bank Company Profile
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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