Toronto-Dominion Bank (TSE:TD) Announces Earnings Results

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) released its quarterly earnings data on Thursday. The company reported C$2.77 earnings per share for the quarter, FiscalAI reports. The business had revenue of C$16.93 billion during the quarter. Toronto-Dominion Bank had a return on equity of 11.85% and a net margin of 13.21%.

Toronto-Dominion Bank Trading Up 0.7%

Shares of TSE:TD opened at C$165.87 on Thursday. The company has a market cap of C$274.03 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.22 and a beta of 0.88. The company has a 50-day moving average price of C$169.32 and a 200 day moving average price of C$151.17. Toronto-Dominion Bank has a 12 month low of C$100.01 and a 12 month high of C$175.33.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 31st were given a dividend of $1.12 per share. The ex-dividend date was Friday, July 10th. This represents a $4.48 annualized dividend and a dividend yield of 2.7%. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $1.08. Toronto-Dominion Bank’s dividend payout ratio is currently 50.00%.

Wall Street Analyst Weigh In

TD has been the subject of several research reports. Keefe, Bruyette & Woods set a C$180.00 price objective on shares of Toronto-Dominion Bank and gave the stock a “hold” rating in a report on Friday, August 21st. Raymond James Financial boosted their price target on shares of Toronto-Dominion Bank from C$155.00 to C$180.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. National Bank Financial set a C$190.00 price target on Toronto-Dominion Bank and gave the stock an “outperform” rating in a research note on Monday. Desjardins lifted their target price on shares of Toronto-Dominion Bank from C$160.00 to C$183.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Jefferies Financial Group lifted their price objective on Toronto-Dominion Bank from C$151.00 to C$159.00 in a research note on Thursday, August 13th. Seven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$164.15.

Insider Buying and Selling at Toronto-Dominion Bank

In other Toronto-Dominion Bank news, insider Kelvin Vi Luan Tran sold 8,498 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of C$156.61, for a total value of C$1,330,871.78. Following the sale, the insider owned 26,677 shares in the company, valued at C$4,177,884.97. This trade represents a 24.16% decrease in their ownership of the stock. Also, insider Paul Martyn Clark sold 27,649 shares of Toronto-Dominion Bank stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of C$161.22, for a total transaction of C$4,457,571.78. Following the sale, the insider owned 260 shares of the company’s stock, valued at C$41,917.20. The trade was a 99.07% decrease in their position. Corporate insiders own 0.08% of the company’s stock.

Toronto-Dominion Bank Company Profile

TD Asset Management Inc (‘TDAM’), a member of TD Bank Group, is a Canadian investment management firm with a growing global presence. Bringing together three decades of investment experience, our broad selection of strategies and solutions includes fundamental equities, quantitative and passive equities, fixed income across the credit quality spectrum and alternatives, such as private credit, infrastructure and real estate. TDAM offers institutional investment solutions to corporations, pension funds, endowments and foundations, sovereign wealth funds and superannuation funds, among others.