Toronto Dominion Bank (NYSE:TD) Reaches New 1-Year High – Should You Buy?

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $88.75 and last traded at $88.3470, with a volume of 121309 shares changing hands. The stock had previously closed at $88.32.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TD. Raymond James Financial raised shares of Toronto Dominion Bank to a “hold” rating in a report on Monday, November 24th. Jefferies Financial Group lowered shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Royal Bank Of Canada upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Friday, October 3rd. Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Toronto Dominion Bank in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $93.00.

Toronto Dominion Bank Price Performance

The firm has a market cap of $150.63 billion, a P/E ratio of 10.59, a P/E/G ratio of 1.23 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 business’s 50 day moving average is $81.86 and its two-hundred day moving average is $76.62.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, December 4th. The bank reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. Toronto Dominion Bank had a return on equity of 13.87% and a net margin of 16.53%.The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $10.10 billion. During the same period last year, the business posted $1.72 EPS. The business’s revenue was down .1% compared to the same quarter last year. As a group, analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Friday, January 9th will be issued a $1.08 dividend. The ex-dividend date is Friday, January 9th. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.05. This represents a $4.32 dividend on an annualized basis and a yield of 4.8%. Toronto Dominion Bank’s dividend payout ratio is presently 36.70%.

Institutional Trading of Toronto Dominion Bank

Several large investors have recently modified their holdings of TD. Commons Capital LLC lifted its position in shares of Toronto Dominion Bank by 0.7% during the 3rd quarter. Commons Capital LLC now owns 18,251 shares of the bank’s stock valued at $1,459,000 after acquiring an additional 134 shares during the period. CIBC Private Wealth Group LLC increased its stake in Toronto Dominion Bank by 4.8% in 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 in 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 valued at $626,000 after purchasing an additional 139 shares during the period. HBK Sorce Advisory LLC raised its holdings in shares of Toronto Dominion Bank by 5.0% during the third quarter. HBK Sorce Advisory LLC now owns 2,953 shares of the bank’s stock valued at $238,000 after purchasing an additional 141 shares during the period. Finally, Journey Strategic Wealth LLC boosted its position in shares of Toronto Dominion Bank by 3.7% during the 3rd quarter. Journey Strategic Wealth LLC now owns 4,031 shares of the bank’s stock worth $322,000 after purchasing an additional 145 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

About Toronto Dominion Bank

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.