Toronto Dominion Bank (The) (NYSE:TD) Plans Quarterly Dividend of C$1.12

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) declared a quarterly dividend on Thursday, May 28th. Stockholders of record on Friday, July 10th will be paid a dividend of 1.12 per share by the bank on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, July 10th. This is a 3.7% increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08.

Toronto Dominion Bank has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Toronto Dominion Bank has a payout ratio of 50.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Toronto Dominion Bank to earn $7.69 per share next year, which means the company should continue to be able to cover its $3.10 annual dividend with an expected future payout ratio of 40.3%.

Toronto Dominion Bank Stock Up 1.0%

Shares of NYSE:TD traded up $1.13 on Thursday, hitting $113.33. 2,911,515 shares of the company traded hands, compared to its average volume of 1,391,381. Toronto Dominion Bank has a 52 week low of $68.08 and a 52 week high of $113.51. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.09. The stock has a 50 day simple moving average of $102.50 and a 200-day simple moving average of $95.70. The company has a market cap of $187.70 billion, a PE ratio of 12.52, a PEG ratio of 1.25 and a beta of 0.71.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.13. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The firm had revenue of $11.01 billion during the quarter, compared to the consensus estimate of $10.43 billion. During the same period last year, the company earned $2.02 earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. As a group, research analysts expect that Toronto Dominion Bank will post 6.89 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TD shares. Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Weiss Ratings upgraded Toronto Dominion Bank from a “buy (b)” rating to a “buy (a-)” rating in a report on Friday, March 27th. Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Wall Street Zen downgraded Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, Scotiabank upgraded Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

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.