Toronto Dominion Bank (NYSE:TD) Sets New 52-Week High – What’s Next?

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $117.95 and last traded at $118.1420, with a volume of 2212188 shares trading hands. The stock had previously closed at $117.33.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TD shares. Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Scotiabank upgraded Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 4th. 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. Royal Bank Of Canada boosted their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company 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. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

Toronto Dominion Bank Price Performance

The stock’s 50 day moving average price is $107.43 and its 200-day moving average price is $98.43. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $193.28 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 1.30 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, topping the consensus estimate of $1.63 by $0.11. The company 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 firm’s revenue was down 31.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.97 EPS. As a group, equities analysts forecast that Toronto Dominion Bank will post 6.92 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be paid a dividend of $1.12 per share. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, July 10th. Toronto Dominion Bank’s payout ratio is presently 48.52%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bayban bought a new stake in Toronto Dominion Bank during the 4th quarter valued at $28,000. Harvest Fund Management Co. Ltd raised its holdings in shares of Toronto Dominion Bank by 112.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock valued at $30,000 after acquiring an additional 168 shares in the last quarter. CBIZ Investment Advisory Services LLC purchased a new stake in Toronto Dominion Bank in the fourth quarter worth about $34,000. Brown Lisle Cummings Inc. grew its holdings in Toronto Dominion Bank by 88.4% during the 1st quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock worth $38,000 after acquiring an additional 191 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its holdings in shares of Toronto Dominion Bank by 177.9% in the 4th quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank’s stock valued at $40,000 after purchasing an additional 274 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Company Profile

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.