Toronto Dominion Bank (NYSE:TD) Hits New 12-Month High – Should You Buy?

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) hit a new 52-week high during trading on Monday . The company traded as high as $93.67 and last traded at $93.7890, with a volume of 235888 shares. The stock had previously closed at $92.82.

Wall Street Analysts Forecast Growth

TD has been the subject of a number of analyst reports. National Bank Financial raised Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 18th. Jefferies Financial Group cut shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Natl Bk Canada raised shares of Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 17th. Royal Bank Of Canada upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 3rd. Finally, Raymond James Financial upgraded Toronto Dominion Bank to a “hold” rating in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $93.00.

Toronto Dominion Bank Stock Up 0.2%

The stock has a market cap of $159.30 billion, a P/E ratio of 11.18, a PEG ratio of 1.30 and a beta of 0.69. The stock’s fifty day simple moving average is $84.30 and its 200-day simple moving average is $78.24. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. Toronto Dominion Bank had a return on equity of 13.90% and a net margin of 16.52%.The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $10.10 billion. During the same period in the prior year, the business earned $1.72 EPS. The firm’s revenue was down .1% on a year-over-year basis. On average, research analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Friday, January 9th will be given a $1.08 dividend. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, January 9th. This represents a $4.32 annualized dividend and a yield of 4.6%. Toronto Dominion Bank’s payout ratio is currently 35.82%.

Hedge Funds Weigh In On Toronto Dominion Bank

Several hedge funds and other institutional investors have recently made changes to their positions in the business. True Wealth Design LLC acquired a new stake in Toronto Dominion Bank in the third quarter worth about $27,000. Mather Group LLC. acquired a new stake in shares of Toronto Dominion Bank in the 3rd quarter worth approximately $30,000. Quaker Wealth Management LLC increased its stake in shares of Toronto Dominion Bank by 200.0% during the second quarter. Quaker Wealth Management LLC now owns 428 shares of the bank’s stock valued at $31,000 after acquiring an additional 856 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in shares of Toronto Dominion Bank during the second quarter valued at approximately $32,000. Finally, Sachetta LLC acquired a new stake in Toronto Dominion Bank in the third quarter worth approximately $33,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.