Toronto Dominion Bank (NYSE:TD) Hits New 1-Year High – What’s Next?

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) hit a new 52-week high on Monday . The stock traded as high as $117.95 and last traded at $118.1420, with a volume of 2212188 shares trading hands. The stock had previously closed at $117.33.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target on Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Weiss Ratings cut Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, June 11th. Wall Street Zen cut Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. Finally, Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

Toronto Dominion Bank Trading Up 0.8%

The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The firm has a 50 day moving average price of $108.33 and a two-hundred day moving average price of $98.92. The company has a market cap of $195.39 billion, a price-to-earnings ratio of 18.45, a PEG ratio of 1.30 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, beating the consensus estimate of $1.63 by $0.11. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The company had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the prior year, the company earned $1.97 EPS. The firm’s revenue for the quarter was down 31.1% compared to the same quarter last year. As a group, equities analysts forecast that Toronto Dominion Bank will post 6.92 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be given a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, July 10th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio is currently 48.52%.

Institutional Investors Weigh In On Toronto Dominion Bank

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rathbones Group PLC boosted its position in shares of Toronto Dominion Bank by 2.3% during the 1st quarter. Rathbones Group PLC now owns 32,019 shares of the bank’s stock valued at $2,981,000 after purchasing an additional 734 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of Toronto Dominion Bank by 8.4% during the 1st quarter. Parallel Advisors LLC now owns 6,378 shares of the bank’s stock valued at $595,000 after purchasing an additional 494 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Toronto Dominion Bank by 4.7% during the 1st quarter. NewEdge Advisors LLC now owns 9,171 shares of the bank’s stock valued at $856,000 after purchasing an additional 410 shares in the last quarter. Glenmede Trust Co. NA boosted its position in shares of Toronto Dominion Bank by 14.2% during the 1st quarter. Glenmede Trust Co. NA now owns 13,250 shares of the bank’s stock valued at $1,236,000 after purchasing an additional 1,647 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Toronto Dominion Bank by 7.8% during the 1st quarter. Bank of America Corp DE now owns 4,967,545 shares of the bank’s stock valued at $463,522,000 after purchasing an additional 358,412 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

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.