Short Interest in Toronto Dominion Bank (The) (NYSE:TD) Drops By 47.5%

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) was the target of a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 9,747,325 shares, a decline of 47.5% from the April 15th total of 18,548,724 shares. Based on an average trading volume of 2,186,548 shares, the days-to-cover ratio is presently 4.5 days. Currently, 0.6% of the company’s stock are sold short.

Toronto Dominion Bank Stock Down 0.5%

Toronto Dominion Bank stock traded down $0.56 during midday trading on Friday, hitting $107.69. The stock had a trading volume of 2,132,859 shares, compared to its average volume of 1,732,777. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.09. The stock has a market cap of $178.34 billion, a P/E ratio of 11.90, a P/E/G ratio of 1.22 and a beta of 0.71. Toronto Dominion Bank has a 12 month low of $64.12 and a 12 month high of $109.22. The business has a fifty day moving average price of $100.04 and a 200 day moving average price of $93.97.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.13. The firm had revenue of $11.01 billion during the quarter, compared to analyst estimates of $10.43 billion. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.Toronto Dominion Bank’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.02 earnings per share. Research analysts predict that Toronto Dominion Bank will post 6.91 EPS for the current year.

Toronto Dominion Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 9th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Thursday, April 9th. Toronto Dominion Bank’s payout ratio is currently 34.36%.

Institutional Trading of Toronto Dominion Bank

Several hedge funds and other institutional investors have recently bought and sold shares of TD. AQR Capital Management LLC bought a new stake in Toronto Dominion Bank in the first quarter valued at about $568,000. Focus Partners Wealth increased its holdings in Toronto Dominion Bank by 27.7% in the first quarter. Focus Partners Wealth now owns 24,970 shares of the bank’s stock valued at $1,497,000 after buying an additional 5,410 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Toronto Dominion Bank in the second quarter valued at about $259,000. Cresset Asset Management LLC bought a new stake in Toronto Dominion Bank in the second quarter valued at about $211,000. Finally, NewEdge Advisors LLC increased its holdings in Toronto Dominion Bank by 25.3% in the second quarter. NewEdge Advisors LLC now owns 8,039 shares of the bank’s stock valued at $590,000 after buying an additional 1,622 shares during the last quarter. 52.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 4th. Wall Street Zen raised Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Canadian Imperial Bank of Commerce lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday. Finally, Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.00.

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.