Toronto Dominion Bank (NYSE:TD) Sets New 1-Year High – What’s Next?

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) hit a new 52-week high during trading on Monday . The company traded as high as $95.42 and last traded at $95.7550, with a volume of 306104 shares traded. The stock had previously closed at $94.54.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TD. Natl Bk Canada upgraded shares of Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th. Wall Street Zen raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Sunday, December 28th. Royal Bank Of Canada upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 3rd. National Bank Financial raised Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 18th. Finally, Jefferies Financial Group cut Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Toronto Dominion Bank currently has an average rating of “Moderate Buy” and a consensus price target of $93.00.

Toronto Dominion Bank Trading Down 1.5%

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 stock has a market capitalization of $159.96 billion, a P/E ratio of 11.23, a price-to-earnings-growth ratio of 1.34 and a beta of 0.67. The company has a fifty day simple moving average of $87.10 and a two-hundred day simple moving average of $79.92.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, topping 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 company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $10.10 billion. During the same quarter last year, the firm posted $1.72 earnings per share. Toronto Dominion Bank’s revenue was down .1% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Friday, January 9th will be given a dividend of $1.08 per share. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.05. 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. Toronto Dominion Bank’s payout ratio is currently 35.82%.

Hedge Funds Weigh In On Toronto Dominion Bank

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Toronto Dominion Bank by 3.4% in the second quarter. Vanguard Group Inc. now owns 77,187,442 shares of the bank’s stock valued at $5,677,291,000 after purchasing an additional 2,552,603 shares in the last quarter. TD Asset Management Inc raised its position in Toronto Dominion Bank by 0.7% in the 3rd quarter. TD Asset Management Inc now owns 37,612,007 shares of the bank’s stock valued at $3,008,096,000 after buying an additional 246,999 shares during the last quarter. 1832 Asset Management L.P. boosted its position in Toronto Dominion Bank by 0.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 22,548,848 shares of the bank’s stock worth $1,656,213,000 after acquiring an additional 101,678 shares during the last quarter. Canerector Inc. grew its stake in shares of Toronto Dominion Bank by 11,028.0% during the 3rd quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock worth $1,779,367,000 after acquiring an additional 22,056,000 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Toronto Dominion Bank in the second quarter worth $1,543,639,000. Institutional investors own 52.37% of the company’s stock.

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.