Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 12,640,000 shares, a growth of 62.1% from the June 30th total of 7,800,000 shares. Based on an average daily volume of 2,140,000 shares, the short-interest ratio is currently 5.9 days. Approximately 0.7% of the shares of the stock are sold short.
Shares of NYSE:TD opened at $44.28 on Friday. Toronto-Dominion Bank has a 1 year low of $33.74 and a 1 year high of $58.81. The company has a market cap of $80.24 billion, a PE ratio of 10.35, a P/E/G ratio of 1.81 and a beta of 0.86. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.98 and a quick ratio of 0.98. The stock’s 50-day moving average is $44.95 and its 200 day moving average is $46.29.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, May 28th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.25. Toronto-Dominion Bank had a return on equity of 13.24% and a net margin of 18.30%. The company had revenue of $10.53 billion for the quarter, compared to the consensus estimate of $9.82 billion. During the same quarter in the previous year, the business earned $1.75 EPS. Toronto-Dominion Bank’s revenue was up 2.9% compared to the same quarter last year. Analysts expect that Toronto-Dominion Bank will post 3.52 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 10th were issued a dividend of $0.567 per share. The ex-dividend date was Thursday, July 9th. This represents a $2.27 dividend on an annualized basis and a yield of 5.12%. Toronto-Dominion Bank’s dividend payout ratio is presently 46.32%.
A number of large investors have recently made changes to their positions in the stock. CIBC Asset Management Inc increased its holdings in Toronto-Dominion Bank by 4.8% during the 1st quarter. CIBC Asset Management Inc now owns 22,865,926 shares of the bank’s stock valued at $968,572,000 after purchasing an additional 1,057,430 shares during the period. 1832 Asset Management L.P. boosted its position in Toronto-Dominion Bank by 10.8% during the 1st quarter. 1832 Asset Management L.P. now owns 21,180,405 shares of the bank’s stock valued at $883,332,000 after acquiring an additional 2,071,148 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Toronto-Dominion Bank by 10.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 17,988,895 shares of the bank’s stock valued at $756,157,000 after acquiring an additional 1,742,212 shares in the last quarter. Capital Research Global Investors boosted its position in Toronto-Dominion Bank by 3.8% during the 1st quarter. Capital Research Global Investors now owns 16,924,447 shares of the bank’s stock valued at $719,526,000 after acquiring an additional 622,871 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Toronto-Dominion Bank by 4.2% during the 1st quarter. JPMorgan Chase & Co. now owns 8,672,570 shares of the bank’s stock valued at $367,629,000 after acquiring an additional 349,819 shares in the last quarter. Institutional investors own 47.89% of the company’s stock.
A number of equities research analysts have weighed in on the company. Barclays lowered their price target on Toronto-Dominion Bank from $62.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, May 11th. Scotiabank lifted their price objective on Toronto-Dominion Bank from $65.00 to $66.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. CIBC assumed coverage on Toronto-Dominion Bank in a report on Friday, July 24th. They issued a “neutral” rating on the stock. ValuEngine upgraded Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Finally, Bank of America lifted their price objective on Toronto-Dominion Bank from $43.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $71.62.
About Toronto-Dominion Bank
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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