Toronto-Dominion Bank (NYSE:TD) Sees Significant Growth in Short Interest
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) saw a large increase in short interest in September. As of September 30th, there was short interest totalling 3,290,000 shares, an increase of 12.3% from the August 30th total of 2,930,000 shares. Based on an average trading volume of 1,290,000 shares, the short-interest ratio is presently 2.6 days. Currently, 0.2% of the company’s stock are sold short.
Several institutional investors have recently bought and sold shares of the company. First Trust Advisors LP lifted its position in Toronto-Dominion Bank by 11.2% in the 1st quarter. First Trust Advisors LP now owns 529,545 shares of the bank’s stock valued at $28,770,000 after purchasing an additional 53,541 shares during the last quarter. Belpointe Asset Management LLC lifted its position in Toronto-Dominion Bank by 54.8% in the 1st quarter. Belpointe Asset Management LLC now owns 6,373 shares of the bank’s stock valued at $345,000 after purchasing an additional 2,257 shares during the last quarter. GYL Financial Synergies LLC bought a new stake in Toronto-Dominion Bank in the 1st quarter valued at about $685,000. Cerebellum GP LLC lifted its position in Toronto-Dominion Bank by 2,750.8% in the 1st quarter. Cerebellum GP LLC now owns 1,796 shares of the bank’s stock valued at $98,000 after purchasing an additional 1,733 shares during the last quarter. Finally, Nordea Investment Management AB lifted its position in Toronto-Dominion Bank by 2.1% in the 1st quarter. Nordea Investment Management AB now owns 1,055,049 shares of the bank’s stock valued at $76,512,000 after purchasing an additional 21,630 shares during the last quarter. Institutional investors own 47.63% of the company’s stock.
Several brokerages have weighed in on TD. Zacks Investment Research lowered shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Saturday, October 5th. National Bank Financial set a $84.00 price objective on shares of Toronto-Dominion Bank and gave the stock a “buy” rating in a report on Friday, August 30th. Barclays set a $80.00 price objective on shares of Toronto-Dominion Bank and gave the stock a “buy” rating in a report on Thursday, August 29th. CIBC set a $83.00 price objective on shares of Toronto-Dominion Bank and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Canaccord Genuity set a $81.00 price target on shares of Toronto-Dominion Bank and gave the stock a “buy” rating in a research report on Friday, August 30th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $78.56.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, August 29th. The bank reported $1.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.45. Toronto-Dominion Bank had a net margin of 20.02% and a return on equity of 16.08%. The company had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $9.80 billion. During the same period last year, the firm posted $1.66 EPS. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, sell-side analysts predict that Toronto-Dominion Bank will post 5.14 earnings per share for the current fiscal year.
The firm also recently declared a — dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a $0.556 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a dividend yield of 4.1%. Toronto-Dominion Bank’s payout ratio is currently 44.53%.
About Toronto-Dominion Bank
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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