Investors Buy Large Volume of Toronto Dominion Bank Call Options (NYSE:TD)

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) was the recipient of some unusual options trading on Thursday. Investors bought 48,588 call options on the stock. This represents an increase of approximately 2,634% compared to the typical daily volume of 1,777 call options.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on TD shares. Zacks Research lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Raymond James Financial upgraded shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Royal Bank Of Canada upped their price target on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Finally, Weiss Ratings lowered shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Institutional Trading of Toronto Dominion Bank

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Toronto Dominion Bank by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank’s stock worth $7,280,911,000 after purchasing an additional 765,107 shares in the last quarter. Norges Bank acquired a new position in Toronto Dominion Bank during the 4th quarter valued at about $2,125,963,000. Bank of Nova Scotia raised its stake in Toronto Dominion Bank by 6.8% in the fourth quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank’s stock valued at $1,836,518,000 after buying an additional 1,234,510 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Toronto Dominion Bank by 10.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 17,014,836 shares of the bank’s stock worth $1,606,978,000 after acquiring an additional 1,629,062 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Toronto Dominion Bank by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 16,747,071 shares of the bank’s stock worth $1,610,733,000 after acquiring an additional 968,122 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Stock Up 0.8%

Shares of TD stock traded up $0.97 during mid-day trading on Thursday, hitting $119.53. 4,833,060 shares of the stock traded hands, compared to its average volume of 2,453,237. Toronto Dominion Bank has a 52-week low of $72.21 and a 52-week high of $122.65. The stock has a market cap of $197.51 billion, a P/E ratio of 18.65, a P/E/G ratio of 1.35 and a beta of 0.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s fifty day moving average is $113.83 and its two-hundred day moving average is $102.47.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.11. The firm had revenue of $11.80 billion for the quarter, compared to the consensus estimate of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The company’s quarterly revenue was down 31.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.97 EPS. Equities analysts predict that Toronto Dominion Bank will post 6.86 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be issued a $1.12 dividend. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, July 10th. Toronto Dominion Bank’s dividend payout ratio is presently 49.14%.

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.