Desjardins Weighs in on The Toronto-Dominion Bank’s Q2 2022 Earnings (NYSE:TD)

The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) – Analysts at Desjardins cut their Q2 2022 earnings per share (EPS) estimates for Toronto-Dominion Bank in a note issued to investors on Monday, May 9th. Desjardins analyst D. Young now expects that the bank will earn $1.50 per share for the quarter, down from their prior forecast of $1.60. Desjardins also issued estimates for Toronto-Dominion Bank’s FY2022 earnings at $6.40 EPS and FY2023 earnings at $7.18 EPS.

Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) last released its earnings results on Thursday, March 3rd. The bank reported $2.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.03. The company had revenue of $11.28 billion during the quarter, compared to analyst estimates of $10.28 billion. Toronto-Dominion Bank had a net margin of 30.57% and a return on equity of 16.18%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.42 EPS.

Other equities research analysts have also issued reports about the stock. Stifel Nicolaus reduced their target price on shares of Toronto-Dominion Bank from C$105.00 to C$104.00 in a report on Friday, April 8th. Scotiabank dropped their price target on Toronto-Dominion Bank from C$116.00 to C$105.00 in a research note on Wednesday, April 13th. Zacks Investment Research upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Friday, April 29th. National Bank Financial downgraded Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Monday, March 7th. Finally, StockNews.com began coverage on Toronto-Dominion Bank in a research note on Thursday, March 31st. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus target price of $100.11.

Toronto-Dominion Bank stock opened at $71.13 on Thursday. The firm has a 50 day moving average of $76.29 and a 200 day moving average of $77.09. The firm has a market capitalization of $128.42 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 1.35 and a beta of 0.96. Toronto-Dominion Bank has a 12-month low of $62.81 and a 12-month high of $86.01. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12.

The company also recently announced a quarterly dividend, which was paid on Saturday, April 30th. Stockholders of record on Friday, April 8th were given a dividend of $0.702 per share. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.70. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date was Thursday, April 7th. Toronto-Dominion Bank’s dividend payout ratio is currently 44.81%.

A number of institutional investors and hedge funds have recently modified their holdings of TD. SG Americas Securities LLC lifted its position in Toronto-Dominion Bank by 101.4% in the third quarter. SG Americas Securities LLC now owns 9,526 shares of the bank’s stock worth $630,000 after buying an additional 4,796 shares during the last quarter. Advisor Group Holdings Inc. lifted its position in Toronto-Dominion Bank by 41.3% in the third quarter. Advisor Group Holdings Inc. now owns 53,113 shares of the bank’s stock worth $3,516,000 after buying an additional 15,519 shares during the last quarter. Advisory Services Network LLC lifted its position in Toronto-Dominion Bank by 6.5% in the third quarter. Advisory Services Network LLC now owns 3,602 shares of the bank’s stock worth $238,000 after buying an additional 221 shares during the last quarter. Pinebridge Investments L.P. bought a new stake in Toronto-Dominion Bank in the third quarter worth $2,289,000. Finally, BlackRock Inc. lifted its position in Toronto-Dominion Bank by 1.4% in the third quarter. BlackRock Inc. now owns 812,683 shares of the bank’s stock worth $53,759,000 after buying an additional 11,252 shares during the last quarter. Institutional investors own 50.00% of the company’s stock.

Toronto-Dominion Bank Company Profile (Get Rating)

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.

Further Reading