Toronto–Dominion Bank (NYSE:TD) Posts Earnings Results, Beats Estimates By $0.06 EPS

Toronto–Dominion Bank (NYSE:TD) (TSE:TD) issued its quarterly earnings results on Thursday, March 1st. The bank reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.06, Morningstar.com reports. Toronto–Dominion Bank had a net margin of 22.12% and a return on equity of 15.76%. The company had revenue of $9.36 billion for the quarter, compared to the consensus estimate of $8.96 billion. During the same quarter in the prior year, the company earned $1.33 EPS. Toronto–Dominion Bank’s quarterly revenue was up 2.6% on a year-over-year basis.

Shares of Toronto–Dominion Bank stock traded down $1.08 during midday trading on Friday, hitting $56.85. 1,774,750 shares of the stock were exchanged, compared to its average volume of 1,474,830. The firm has a market cap of $104,898.20, a PE ratio of 13.54, a price-to-earnings-growth ratio of 1.12 and a beta of 0.93. Toronto–Dominion Bank has a twelve month low of $45.18 and a twelve month high of $61.06. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.11.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Tuesday, April 10th will be paid a dividend of $0.522 per share. This is a boost from Toronto–Dominion Bank’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Monday, April 9th. This represents a $2.09 dividend on an annualized basis and a dividend yield of 3.67%. Toronto–Dominion Bank’s dividend payout ratio (DPR) is presently 46.43%.

Several brokerages recently weighed in on TD. Canaccord Genuity reiterated a “buy” rating and issued a $80.00 price target on shares of Toronto–Dominion Bank in a report on Thursday, November 30th. Desjardins upgraded shares of Toronto–Dominion Bank from a “hold” rating to a “buy” rating in a report on Friday, March 2nd. Zacks Investment Research downgraded shares of Toronto–Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, December 2nd. Finally, Bank of America increased their price target on shares of Toronto–Dominion Bank from $71.00 to $87.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $77.20.

Several hedge funds and other institutional investors have recently modified their holdings of TD. Icon Wealth Partners LLC acquired a new stake in shares of Toronto–Dominion Bank during the 4th quarter worth approximately $102,000. Teachers Advisors LLC grew its stake in shares of Toronto–Dominion Bank by 3.7% during the 2nd quarter. Teachers Advisors LLC now owns 2,556 shares of the bank’s stock worth $129,000 after purchasing an additional 92 shares during the period. Calton & Associates Inc. acquired a new stake in shares of Toronto–Dominion Bank during the 4th quarter worth approximately $141,000. Financial Gravity Companies Inc. acquired a new stake in shares of Toronto–Dominion Bank during the 4th quarter worth approximately $176,000. Finally, Beacon Investment Advisory Services Inc. acquired a new stake in shares of Toronto–Dominion Bank during the 3rd quarter worth approximately $203,000. 48.96% of the stock is currently owned by institutional investors and hedge funds.

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Toronto–Dominion Bank Company Profile

Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.

Earnings History for Toronto–Dominion Bank (NYSE:TD)

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