Toronto Dominion Bank (NYSE:TD) Reaches New 1-Year High – Still a Buy?

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $71.92 and last traded at $71.82, with a volume of 52584 shares trading hands. The stock had previously closed at $71.18.

Wall Street Analysts Forecast Growth

TD has been the topic of a number of recent analyst reports. Royal Bank Of Canada lifted their price target on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the company a “sector perform” rating in a research report on Friday, May 23rd. Wall Street Zen raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th. Finally, Scotiabank initiated coverage on shares of Toronto Dominion Bank in a research report on Thursday, May 15th. They set a “sector perform” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Toronto Dominion Bank has a consensus rating of “Hold” and an average price target of $93.00.

Toronto Dominion Bank Price Performance

The stock has a market cap of $123.98 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 1.77 and a beta of 0.82. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. The company’s fifty day simple moving average is $66.55 and its 200-day simple moving average is $60.39.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.14. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $13.36 billion. Toronto Dominion Bank had a net margin of 13.53% and a return on equity of 13.11%. During the same quarter in the previous year, the firm posted $2.04 EPS. As a group, sell-side analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be paid a $0.7568 dividend. This represents a $3.03 annualized dividend and a dividend yield of 4.20%. The ex-dividend date is Thursday, July 10th. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $0.73. Toronto Dominion Bank’s payout ratio is currently 42.82%.

Institutional Investors Weigh In On Toronto Dominion Bank

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers lifted its position in Toronto Dominion Bank by 1.8% during the 4th quarter. Rhumbline Advisers now owns 20,096 shares of the bank’s stock worth $1,070,000 after buying an additional 357 shares in the last quarter. Global Retirement Partners LLC lifted its position in Toronto Dominion Bank by 26.3% during the 4th quarter. Global Retirement Partners LLC now owns 2,309 shares of the bank’s stock valued at $123,000 after purchasing an additional 481 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Toronto Dominion Bank during the 4th quarter valued at about $58,000. IFP Advisors Inc lifted its position in Toronto Dominion Bank by 367.0% during the 4th quarter. IFP Advisors Inc now owns 2,279 shares of the bank’s stock valued at $121,000 after purchasing an additional 1,791 shares during the period. Finally, Crestwood Advisors Group LLC lifted its position in Toronto Dominion Bank by 9.6% during the 4th quarter. Crestwood Advisors Group LLC now owns 4,271 shares of the bank’s stock valued at $227,000 after purchasing an additional 373 shares during the period. Institutional investors and hedge funds own 52.37% of the company’s stock.

About Toronto Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.