Toronto Dominion Bank (The) (TD) to Issue Quarterly Dividend of C$1.12 on October 31st

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) declared a quarterly dividend on Thursday, August 27th. Stockholders of record on Friday, October 9th will be paid a dividend of 1.12 per share by the bank on Saturday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, October 9th.

Toronto Dominion Bank has increased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 12 years. Toronto Dominion Bank has a dividend payout ratio of 50.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Toronto Dominion Bank to earn $7.80 per share next year, which means the company should continue to be able to cover its $3.15 annual dividend with an expected future payout ratio of 40.4%.

Toronto Dominion Bank Price Performance

Shares of TD stock opened at $121.33 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 12-month low of $72.78 and a 12-month high of $125.46. The firm has a fifty day moving average of $120.58 and a 200-day moving average of $109.23. The firm has a market capitalization of $199.57 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 1.22 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, August 27th. The bank reported $1.98 EPS for the quarter, topping the consensus estimate of $1.74 by $0.24. The business had revenue of $12.07 billion for the quarter, compared to the consensus estimate of $10.70 billion. Toronto Dominion Bank had a return on equity of 14.85% and a net margin of 14.41%.The firm’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.20 EPS. On average, equities research analysts forecast that Toronto Dominion Bank will post 6.99 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on TD. Keefe, Bruyette & Woods began coverage on Toronto Dominion Bank in a research report on Friday, August 21st. They set a “market perform” rating on the stock. Royal Bank Of Canada boosted their price objective on Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Wall Street Zen raised Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. 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, Raymond James Financial raised shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

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.