The Toronto-Dominion Bank (NYSE:TD) Declares $0.71 Quarterly Dividend

The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) announced a quarterly dividend on Thursday, May 25th, Zacks reports. Shareholders of record on Monday, July 10th will be given a dividend of 0.709 per share by the bank on Monday, July 31st. This represents a $2.84 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Friday, July 7th.

Toronto-Dominion Bank has increased its dividend payment by an average of 7.2% per year over the last three years and has raised its dividend every year for the last 1 years. Toronto-Dominion Bank has a payout ratio of 43.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Toronto-Dominion Bank to earn $6.75 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 42.1%.

Toronto-Dominion Bank Price Performance

Shares of NYSE TD opened at $57.06 on Friday. Toronto-Dominion Bank has a twelve month low of $55.43 and a twelve month high of $77.15. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $104.97 billion, a price-to-earnings ratio of 9.01, a price-to-earnings-growth ratio of 1.50 and a beta of 0.88. The business has a 50 day simple moving average of $59.97 and a 200-day simple moving average of $63.93.

Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) last issued its quarterly earnings results on Thursday, March 2nd. The bank reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.03. The business had revenue of $9.01 billion during the quarter, compared to the consensus estimate of $8.97 billion. Toronto-Dominion Bank had a return on equity of 16.02% and a net margin of 18.23%. As a group, equities research analysts expect that Toronto-Dominion Bank will post 6.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Barclays downgraded Toronto-Dominion Bank from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, May 9th. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, May 20th. Scotiabank upgraded Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, March 3rd. CIBC upgraded Toronto-Dominion Bank from a “neutral” rating to a “sector outperform” rating in a research report on Monday, April 17th. Finally, Desjardins boosted their price target on Toronto-Dominion Bank from C$105.00 to C$106.00 in a research report on Tuesday, February 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $100.57.

Institutional Trading of Toronto-Dominion Bank

Several institutional investors have recently modified their holdings of TD. Fairfield Bush & CO. acquired a new stake in shares of Toronto-Dominion Bank during the first quarter worth $26,000. BlackRock Inc. raised its position in shares of Toronto-Dominion Bank by 6.3% during the first quarter. BlackRock Inc. now owns 914,064 shares of the bank’s stock worth $72,595,000 after purchasing an additional 54,121 shares during the period. U.S. Capital Wealth Advisors LLC acquired a new position in Toronto-Dominion Bank during the first quarter valued at $200,000. Raymond James Trust N.A. raised its position in Toronto-Dominion Bank by 1.7% during the first quarter. Raymond James Trust N.A. now owns 9,868 shares of the bank’s stock valued at $784,000 after buying an additional 161 shares during the period. Finally, Cetera Investment Advisers raised its position in Toronto-Dominion Bank by 21.8% during the first quarter. Cetera Investment Advisers now owns 12,022 shares of the bank’s stock valued at $955,000 after buying an additional 2,154 shares during the period. Institutional investors and hedge funds own 49.22% of the company’s stock.

Toronto-Dominion Bank Company Profile

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The Toronto-Dominion Bank engages in the provision of financial products and services. It operates through the following segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The Canadian Retail segment offers various financial products and services, as well as telephone, Internet, and mobile banking services.