Toronto Dominion Bank (NYSE:TD) Sees Large Volume Increase – Still a Buy?

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) saw strong trading volume on Tuesday . 5,521,497 shares traded hands during trading, an increase of 124% from the previous session’s volume of 2,465,056 shares.The stock last traded at $96.5650 and had previously closed at $95.89.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Zacks Research upgraded Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. National Bank Financial upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 18th. Weiss Ratings upgraded Toronto Dominion Bank from a “buy (b)” rating to a “buy (a-)” rating in a report on Friday, March 27th. Finally, Wall Street Zen upgraded Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Monday, March 2nd. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Toronto Dominion Bank presently has a consensus rating of “Moderate Buy” and an average price target of $93.00.

Toronto Dominion Bank Stock Up 0.7%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a fifty day simple moving average of $95.37 and a 200-day simple moving average of $89.29. The company has a market capitalization of $160.92 billion, a PE ratio of 10.69, a P/E/G ratio of 1.08 and a beta of 0.65.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, February 26th. The bank reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.13. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The company had revenue of $11.01 billion for the quarter, compared to the consensus estimate of $10.43 billion. During the same period in the previous year, the business earned $2.02 EPS. Toronto Dominion Bank’s revenue for the quarter was up 18.1% compared to the same quarter last year. Equities research analysts anticipate that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 9th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Thursday, April 9th. Toronto Dominion Bank’s payout ratio is 34.81%.

Institutional Investors Weigh In On Toronto Dominion Bank

A number of institutional investors have recently made changes to their positions in the company. Purpose Unlimited Inc. bought a new stake in shares of Toronto Dominion Bank in the 4th quarter valued at approximately $47,488,000. Rockefeller Capital Management L.P. increased its holdings in shares of Toronto Dominion Bank by 20.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 25,384 shares of the bank’s stock valued at $2,391,000 after acquiring an additional 4,345 shares during the last quarter. World Investment Advisors increased its holdings in shares of Toronto Dominion Bank by 38.1% in the 4th quarter. World Investment Advisors now owns 10,199 shares of the bank’s stock valued at $961,000 after acquiring an additional 2,813 shares during the last quarter. Auto Owners Insurance Co increased its holdings in shares of Toronto Dominion Bank by 9,320.0% in the 4th quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank’s stock valued at $396,544,000 after acquiring an additional 3,923,347 shares during the last quarter. Finally, Bayban bought a new stake in shares of Toronto Dominion Bank in the 4th quarter valued at approximately $28,000. 52.37% of the stock is currently owned by 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.