Toronto Dominion Bank (NYSE:TD) Hits New 52-Week High – Time to Buy?

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $82.93 and last traded at $82.7650, with a volume of 622615 shares. The stock had previously closed at $81.60.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, October 8th. Royal Bank Of Canada raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 3rd. Desjardins upgraded shares of Toronto Dominion Bank from a “hold” rating to a “buy” rating in a research note on Wednesday, August 13th. Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Finally, Zacks Research lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $93.00.

Toronto Dominion Bank Stock Performance

The business has a fifty day moving average of $79.35 and a 200 day moving average of $73.86. The company has a market cap of $140.41 billion, a P/E ratio of 9.67, a P/E/G ratio of 1.68 and a beta of 0.79. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, August 28th. The bank reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.45. The company had revenue of $10.12 billion during the quarter, compared to analysts’ expectations of $13.73 billion. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.05 EPS. On average, equities analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 10th were paid a dividend of $1.05 per share. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Friday, October 10th. This represents a $4.20 annualized dividend and a yield of 5.1%. Toronto Dominion Bank’s dividend payout ratio is 35.16%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TD. Canerector Inc. grew its holdings in Toronto Dominion Bank by 11,028.0% in the third quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock valued at $1,779,367,000 after purchasing an additional 22,056,000 shares during the period. Norges Bank purchased a new stake in Toronto Dominion Bank in the 2nd quarter worth $1,543,639,000. Goldman Sachs Group Inc. raised its position in Toronto Dominion Bank by 93.9% during the first quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank’s stock worth $732,252,000 after acquiring an additional 5,917,078 shares during the period. Federation des caisses Desjardins du Quebec lifted its holdings in Toronto Dominion Bank by 48.9% during the first quarter. Federation des caisses Desjardins du Quebec now owns 14,785,565 shares of the bank’s stock valued at $886,174,000 after purchasing an additional 4,853,498 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Toronto Dominion Bank by 81.6% in the first quarter. Canada Pension Plan Investment Board now owns 10,524,446 shares of the bank’s stock valued at $630,746,000 after purchasing an additional 4,729,657 shares during the period. Institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Company Profile

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.