Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 7,580,000 shares, an increase of 130.4% from the September 30th total of 3,290,000 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average trading volume of 1,280,000 shares, the short-interest ratio is presently 5.9 days.
NYSE:TD traded down $0.14 during trading hours on Wednesday, hitting $57.72. The company’s stock had a trading volume of 1,482,067 shares, compared to its average volume of 1,198,746. The stock has a market capitalization of $104.70 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 1.79 and a beta of 1.06. The stock has a fifty day moving average of $56.83 and a 200-day moving average of $56.65. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Toronto-Dominion Bank has a 52-week low of $47.73 and a 52-week high of $59.55.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, August 29th. The bank reported $1.79 EPS for the quarter, beating the consensus estimate of $1.34 by $0.45. The firm had revenue of $10.50 billion for the quarter, compared to analyst estimates of $9.80 billion. Toronto-Dominion Bank had a return on equity of 16.08% and a net margin of 20.02%. Toronto-Dominion Bank’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.66 earnings per share. On average, sell-side analysts forecast that Toronto-Dominion Bank will post 5.17 earnings per share for the current year.
The company also recently disclosed a — dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.556 per share. This represents a dividend yield of 4.1%. The ex-dividend date of this dividend was Wednesday, October 9th. Toronto-Dominion Bank’s payout ratio is 44.53%.
Several hedge funds have recently modified their holdings of TD. Neville Rodie & Shaw Inc. increased its position in Toronto-Dominion Bank by 1.8% in the second quarter. Neville Rodie & Shaw Inc. now owns 22,988 shares of the bank’s stock worth $1,342,000 after buying an additional 400 shares in the last quarter. Bath Savings Trust Co purchased a new stake in Toronto-Dominion Bank in the second quarter worth about $216,000. Cox Capital Mgt LLC increased its position in Toronto-Dominion Bank by 3.9% in the second quarter. Cox Capital Mgt LLC now owns 14,304 shares of the bank’s stock worth $835,000 after buying an additional 537 shares in the last quarter. Calton & Associates Inc. increased its position in Toronto-Dominion Bank by 5.4% in the second quarter. Calton & Associates Inc. now owns 5,029 shares of the bank’s stock worth $293,000 after buying an additional 257 shares in the last quarter. Finally, Surevest Inc. increased its position in Toronto-Dominion Bank by 3.1% in the second quarter. Surevest Inc. now owns 13,157 shares of the bank’s stock worth $768,000 after buying an additional 396 shares in the last quarter. 47.71% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on TD shares. CIBC set a $83.00 price objective on Toronto-Dominion Bank and gave the company a “buy” rating in a research note on Friday, August 30th. Barclays set a $80.00 target price on Toronto-Dominion Bank and gave the company a “buy” rating in a report on Thursday, August 29th. Bank of America lowered Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and dropped their target price for the company from $82.00 to $77.00 in a report on Thursday, August 15th. National Bank Financial set a $84.00 target price on Toronto-Dominion Bank and gave the company a “buy” rating in a report on Friday, August 30th. Finally, CSFB lowered Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $76.00 to $74.00 in a report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $78.36.
Toronto-Dominion Bank Company Profile
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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