Short Interest in Toronto Dominion Bank (The) (NYSE:TD) Drops By 47.5%

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) was the target of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 9,747,325 shares, a drop of 47.5% from the April 15th total of 18,548,724 shares. Based on an average daily volume of 2,186,548 shares, the days-to-cover ratio is currently 4.5 days. Approximately 0.6% of the company’s shares are short sold.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Zacks Research cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Canadian Imperial Bank of Commerce cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday. Wall Street Zen upgraded Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Weiss Ratings upgraded Toronto Dominion Bank from a “buy (b)” rating to a “buy (a-)” rating in a report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TD. AQR Capital Management LLC purchased a new position in Toronto Dominion Bank in the first quarter valued at about $568,000. Focus Partners Wealth raised its position in Toronto Dominion Bank by 27.7% in the first quarter. Focus Partners Wealth now owns 24,970 shares of the bank’s stock valued at $1,497,000 after purchasing an additional 5,410 shares during the period. Sivia Capital Partners LLC purchased a new position in Toronto Dominion Bank in the second quarter valued at about $259,000. Cresset Asset Management LLC purchased a new position in Toronto Dominion Bank in the second quarter valued at about $211,000. Finally, NewEdge Advisors LLC increased its position in shares of Toronto Dominion Bank by 25.3% during the second quarter. NewEdge Advisors LLC now owns 8,039 shares of the bank’s stock worth $590,000 after acquiring an additional 1,622 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Stock Down 0.5%

NYSE:TD traded down $0.56 during mid-day trading on Friday, hitting $107.69. The company had a trading volume of 2,132,859 shares, compared to its average volume of 1,732,777. The business has a fifty day simple moving average of $100.04 and a 200-day simple moving average of $93.97. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 1 year low of $64.12 and a 1 year high of $109.22. The firm has a market capitalization of $178.34 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.22 and a beta of 0.71.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, February 26th. The bank reported $1.76 EPS for the quarter, beating the consensus estimate of $1.63 by $0.13. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The company had revenue of $11.01 billion for the quarter, compared to analyst estimates of $10.43 billion. During the same period last year, the company posted $2.02 earnings per share. The firm’s revenue was up 18.1% compared to the same quarter last year. Equities analysts forecast that Toronto Dominion Bank will post 6.91 earnings per share for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Thursday, April 9th were given a $1.08 dividend. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $4.32 annualized dividend and a yield of 4.0%. Toronto Dominion Bank’s dividend payout ratio (DPR) is 34.36%.

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.