The Toronto-Dominion Bank (TSE:TD) to Issue $0.96 Quarterly Dividend

The Toronto-Dominion Bank (TSE:TD – Get Rating) (NYSE:TD) declared a quarterly dividend on Thursday, May 25th, Zacks reports. Shareholders of record on Monday, July 10th will be given a dividend of 0.96 per share on Monday, July 31st. This represents a $3.84 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date is Friday, July 7th.

Toronto-Dominion Bank Trading Down 4.2 %

TSE:TD opened at C$77.78 on Friday. The firm has a market cap of C$142.34 billion, a price-to-earnings ratio of 9.41, a price-to-earnings-growth ratio of 1.06 and a beta of 0.84. Toronto-Dominion Bank has a 12-month low of C$76.40 and a 12-month high of C$97.13. The company’s 50-day moving average is C$81.09 and its two-hundred day moving average is C$86.35.

Toronto-Dominion Bank (TSE:TD – Get Rating) (NYSE:TD) last announced its quarterly earnings data on Thursday, March 2nd. The company reported C$2.23 earnings per share for the quarter, topping the consensus estimate of C$2.16 by C$0.07. The business had revenue of C$12.23 billion for the quarter, compared to analyst estimates of C$12.12 billion. Toronto-Dominion Bank had a net margin of 31.78% and a return on equity of 14.29%. On average, equities research analysts forecast that Toronto-Dominion Bank will post 8.7335456 earnings per share for the current fiscal year.

Insider Activity

In related news, Senior Officer Riaz Ahmed sold 37,832 shares of Toronto-Dominion Bank stock in a transaction on Monday, March 6th. The shares were sold at an average price of C$89.01, for a total value of C$3,367,426.32. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TD shares. CIBC upgraded shares of Toronto-Dominion Bank from a “neutral” rating to an “outperform” rating and cut their price objective for the stock from C$100.00 to C$97.00 in a report on Tuesday, April 18th. CSFB reduced their price target on shares of Toronto-Dominion Bank from C$97.00 to C$94.00 in a research report on Friday, March 3rd. Fundamental Research set a C$104.14 price target on shares of Toronto-Dominion Bank and gave the company a “buy” rating in a research report on Tuesday, March 14th. Cormark reduced their price target on shares of Toronto-Dominion Bank from C$105.00 to C$98.00 in a research report on Thursday, March 30th. Finally, Barclays reduced their price target on shares of Toronto-Dominion Bank from C$83.00 to C$81.00 in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$96.24.

Toronto-Dominion Bank Company Profile

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