Toronto Dominion Bank (NYSE:TD) Sets New 12-Month High – Time to Buy?

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

Wall Street Analyst Weigh In

Several analysts have issued reports on TD shares. Weiss Ratings cut Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday. Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 4th. Wall Street Zen cut Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Finally, Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. 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 stock. According to data from MarketBeat, Toronto Dominion Bank has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Toronto Dominion Bank Price Performance

The company has a market cap of $193.28 billion, a PE ratio of 18.25, a PEG ratio of 1.30 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s 50-day moving average is $107.43 and its 200 day moving average is $98.43.

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, topping the consensus estimate 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 business had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period in the previous year, the company earned $1.97 earnings per share. The business’s revenue for the quarter was down 31.1% on a year-over-year basis. On average, equities analysts anticipate that Toronto Dominion Bank will post 6.92 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date is Friday, July 10th. Toronto Dominion Bank’s dividend payout ratio (DPR) is 48.52%.

Institutional Investors Weigh In On Toronto Dominion Bank

A number of large investors have recently modified their holdings of the business. Bayban acquired a new position in shares of Toronto Dominion Bank during the fourth quarter valued at about $28,000. Harvest Fund Management Co. Ltd boosted its stake 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 worth $30,000 after purchasing an additional 168 shares in the last quarter. CBIZ Investment Advisory Services LLC purchased a new stake in Toronto Dominion Bank during the 4th quarter worth approximately $34,000. Brown Lisle Cummings Inc. increased its stake in Toronto Dominion Bank by 88.4% during the 1st quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock valued at $38,000 after purchasing an additional 191 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its stake in Toronto Dominion Bank by 177.9% during the 4th quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank’s stock valued at $40,000 after purchasing an additional 274 shares in the last quarter. Hedge funds and other 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.