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

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD)’s share price reached a new 52-week high on Monday . The stock traded as high as $88.75 and last traded at $88.3470, with a volume of 121309 shares trading hands. The stock had previously closed at $88.32.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TD shares. Raymond James Financial upgraded shares of Toronto Dominion Bank to a “hold” rating in a report on Monday, November 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, October 8th. Royal Bank Of Canada upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 3rd. Jefferies Financial Group lowered shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, Desjardins upgraded shares of Toronto Dominion Bank from a “hold” rating to a “buy” rating in a research report on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Toronto Dominion Bank Stock Up 0.1%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03. The firm’s 50-day simple moving average is $81.51 and its 200 day simple moving average is $76.32. The company has a market capitalization of $149.32 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 1.44 and a beta of 0.69.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $10.10 billion. Toronto Dominion Bank had a return on equity of 13.87% and a net margin of 16.53%.Toronto Dominion Bank’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.72 earnings per share. As a group, equities research analysts forecast that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Friday, January 9th will be issued a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Friday, January 9th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.05. Toronto Dominion Bank’s payout ratio is currently 35.87%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Triasima Portfolio Management inc. bought a new position in Toronto Dominion Bank during the second quarter valued at about $8,492,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Toronto Dominion Bank by 41.9% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,407,273 shares of the bank’s stock worth $264,134,000 after purchasing an additional 1,302,281 shares during the period. Picton Mahoney Asset Management purchased a new position in shares of Toronto Dominion Bank during the 2nd quarter valued at $267,475,000. Bank of New York Mellon Corp raised its stake in shares of Toronto Dominion Bank by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,658,144 shares of the bank’s stock worth $121,791,000 after purchasing an additional 51,698 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its stake in Toronto Dominion Bank by 304.0% in the second quarter. Ontario Teachers Pension Plan Board now owns 2,446,307 shares of the bank’s stock valued at $180,047,000 after acquiring an additional 1,840,747 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

About Toronto Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.