Toronto Dominion Bank (NYSE:TD) Hits New 52-Week High – Here’s What Happened

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $124.99 and last traded at $125.2510, with a volume of 35476 shares. The stock had previously closed at $124.36.

Analysts Set New Price Targets

Several research firms recently commented on TD. Wall Street Zen cut Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Royal Bank Of Canada raised their price target on Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Finally, Weiss Ratings raised shares of Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $156.00.

Toronto Dominion Bank Stock Up 0.4%

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 market cap of $205.43 billion, a price-to-earnings ratio of 19.48, a price-to-earnings-growth ratio of 1.38 and a beta of 0.72. The stock’s 50 day moving average is $120.05 and its 200 day moving average is $107.60.

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, topping the consensus estimate of $1.63 by $0.11. The firm had revenue of $11.80 billion for the quarter, compared to analysts’ expectations of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The firm’s quarterly revenue was down 31.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.97 earnings per share. Analysts forecast that Toronto Dominion Bank will post 6.9 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were issued a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 3.6%. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date was Friday, July 10th. Toronto Dominion Bank’s payout ratio is currently 49.14%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Bayban bought a new stake in Toronto Dominion Bank in the fourth quarter worth about $28,000. Harvest Fund Management Co. Ltd lifted its holdings in Toronto Dominion Bank by 112.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock valued at $30,000 after acquiring an additional 168 shares during the last quarter. CBIZ Investment Advisory Services LLC bought a new position in shares of Toronto Dominion Bank during the 4th quarter valued at about $34,000. Brown Lisle Cummings Inc. grew its stake in shares of Toronto Dominion Bank by 88.4% in the 1st quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock worth $38,000 after purchasing an additional 191 shares during the last quarter. Finally, Cornerstone Planning Group LLC grew its stake in shares of Toronto Dominion Bank by 177.9% in the 4th quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank’s stock worth $40,000 after purchasing an additional 274 shares during 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.