Toronto Dominion Bank (NYSE:TD) Releases Earnings Results, Beats Expectations By $0.11 EPS

Toronto Dominion Bank (NYSE:TD) (TSE:TD) announced its quarterly earnings results on Thursday. The bank reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.11, Zacks reports. Toronto Dominion Bank had a net margin of 17.52% and a return on equity of 14.29%.

Toronto Dominion Bank Trading Down 0.5%

NYSE TD opened at $112.05 on Thursday. The company has a market capitalization of $185.57 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 1.26 and a beta of 0.71. Toronto Dominion Bank has a twelve month low of $68.03 and a twelve month high of $113.51. The stock’s 50-day simple moving average is $102.50 and its two-hundred day simple moving average is $95.70. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.09.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its stake in shares of Toronto Dominion Bank by 660.9% during the second quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock worth $38,000 after acquiring an additional 456 shares in the last quarter. McMillan Office Inc. purchased a new position in shares of Toronto Dominion Bank during the fourth quarter worth approximately $50,000. Swiss RE Ltd. purchased a new position in shares of Toronto Dominion Bank in the fourth quarter worth about $51,000. Strive Financial Group LLC purchased a new position in shares of Toronto Dominion Bank in the fourth quarter worth about $62,000. Finally, Sunbelt Securities Inc. increased its holdings in shares of Toronto Dominion Bank by 232.6% in the third quarter. Sunbelt Securities Inc. now owns 715 shares of the bank’s stock worth $57,000 after buying an additional 500 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on TD shares. Zacks Research downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Raymond James Financial raised shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. Weiss Ratings raised shares of Toronto Dominion Bank from a “buy (b)” rating to a “buy (a-)” rating in a research note on Friday, March 27th. Finally, Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

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.