Traders Buy High Volume of Call Options on Toronto Dominion Bank (NYSE:TD)

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) saw some unusual options trading on Thursday. Stock investors purchased 48,588 call options on the stock. This is an increase of approximately 2,634% compared to the typical daily volume of 1,777 call options.

Toronto Dominion Bank Price Performance

Shares of TD stock traded up $0.97 on Thursday, reaching $119.53. The company’s stock had a trading volume of 4,833,060 shares, compared to its average volume of 2,453,237. The stock’s fifty day simple moving average is $113.83 and its 200-day simple moving average is $102.47. Toronto Dominion Bank has a 1 year low of $72.21 and a 1 year high of $122.65. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $197.51 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.35 and a beta of 0.71.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The company had revenue of $11.80 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the prior year, the firm earned $1.97 earnings per share. Toronto Dominion Bank’s revenue was down 31.1% on a year-over-year basis. Analysts forecast that Toronto Dominion Bank will post 6.86 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be given a dividend of $1.12 per share. The ex-dividend date is Friday, July 10th. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. 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 49.14%.

Institutional Investors Weigh In On Toronto Dominion Bank

Large investors have recently added to or reduced their stakes in the stock. Main Line Retirement Advisors LLC increased its position in shares of Toronto Dominion Bank by 0.8% during the first quarter. Main Line Retirement Advisors LLC now owns 12,254 shares of the bank’s stock worth $1,143,000 after acquiring an additional 102 shares during the period. Chicago Partners Investment Group LLC grew its stake in Toronto Dominion Bank by 1.8% in the first quarter. Chicago Partners Investment Group LLC now owns 5,735 shares of the bank’s stock worth $535,000 after purchasing an additional 102 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in Toronto Dominion Bank by 1.5% in the first quarter. Checchi Capital Advisers LLC now owns 7,194 shares of the bank’s stock worth $671,000 after purchasing an additional 104 shares in the last quarter. Rosenberg Matthew Hamilton increased its holdings in Toronto Dominion Bank by 8.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 1,489 shares of the bank’s stock worth $140,000 after purchasing an additional 118 shares during the period. Finally, Richardson Financial Services Inc. raised its position in Toronto Dominion Bank by 12.4% during the 4th quarter. Richardson Financial Services Inc. now owns 1,104 shares of the bank’s stock valued at $104,000 after purchasing an additional 122 shares in the last quarter. 52.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TD has been the subject of several recent analyst reports. Zacks Research downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Royal Bank Of Canada lifted their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Wall Street Zen lowered shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Finally, 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. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $156.00.

About Toronto Dominion Bank

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.