Toronto Dominion Bank (NYSE:TD) Hits New 1-Year High – Here’s What Happened

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $120.98 and last traded at $118.8230, with a volume of 89693 shares traded. The stock had previously closed at $119.49.

Analyst Ratings Changes

A number of research analysts have issued reports on TD shares. Royal Bank Of Canada upped their price objective on Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Wall Street Zen cut Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Raymond James Financial raised shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Scotiabank upgraded shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Finally, Weiss Ratings lowered shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Toronto Dominion Bank Price Performance

The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The stock has a market cap of $198.91 billion, a PE ratio of 18.78, a PEG ratio of 1.32 and a beta of 0.72. The business has a 50-day moving average price of $111.09 and a 200 day moving average price of $100.62.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.11. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The company had revenue of $11.80 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter last year, the firm posted $1.97 EPS. The firm’s revenue for the quarter was down 31.1% on a year-over-year basis. As a group, research analysts forecast that Toronto Dominion Bank will post 6.86 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced 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. The ex-dividend date is Friday, July 10th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. Toronto Dominion Bank’s dividend payout ratio is 48.52%.

Institutional Trading of Toronto Dominion Bank

A number of institutional investors have recently modified their holdings of the business. Bayban bought a new position in Toronto Dominion Bank in the 4th quarter worth approximately $28,000. Harvest Fund Management Co. Ltd raised its holdings 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 acquiring an additional 168 shares during the period. CBIZ Investment Advisory Services LLC purchased a new stake in shares of Toronto Dominion Bank during the fourth quarter worth $34,000. Brown Lisle Cummings Inc. lifted 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 worth $38,000 after acquiring an additional 191 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Toronto Dominion Bank by 660.9% in the second 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 period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

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.