Toronto Dominion Bank (NYSE:TD) Reaches New 12-Month High – Here’s Why

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) shares reached a new 52-week high during trading on Monday . The stock traded as high as $105.75 and last traded at $105.7490, with a volume of 3340351 shares traded. The stock had previously closed at $105.35.

Analyst Upgrades and Downgrades

TD has been the subject of several recent research reports. Weiss Ratings upgraded Toronto Dominion Bank from a “buy (b)” rating to a “buy (a-)” rating in a research report on Friday, March 27th. Canadian Imperial Bank of Commerce downgraded shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Finally, Zacks Research raised shares of Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.00.

Toronto Dominion Bank Stock Down 1.1%

The company’s 50 day moving average price is $96.88 and its two-hundred day moving average price is $91.08. 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 market cap of $174.41 billion, a P/E ratio of 11.64, a P/E/G ratio of 1.21 and a beta of 0.65.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted 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 net margin of 17.52% and a return on equity of 14.29%. The firm had revenue of $11.01 billion during the quarter, compared to the consensus estimate of $10.43 billion. During the same quarter in the previous year, the firm posted $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 6.87 earnings per share for the current year.

Toronto Dominion Bank Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 9th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Thursday, April 9th. Toronto Dominion Bank’s payout ratio is currently 34.36%.

Institutional Trading of Toronto Dominion Bank

Institutional investors and hedge funds have recently modified their holdings of the stock. True Wealth Design LLC bought a new position in Toronto Dominion Bank in the third quarter worth approximately $27,000. Bayban purchased a new position in Toronto Dominion Bank in the fourth quarter worth $28,000. Mather Group LLC. purchased a new position in Toronto Dominion Bank in the third quarter worth $30,000. Harvest Fund Management Co. Ltd grew its holdings in Toronto Dominion Bank by 112.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock worth $30,000 after purchasing an additional 168 shares during the last quarter. Finally, Sachetta LLC purchased a new position in Toronto Dominion Bank in the third quarter worth $33,000. Institutional investors own 52.37% of the company’s stock.

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.