Toronto Dominion Bank (NYSE:TD) Sets New 1-Year High – Should You Buy?

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $94.98 and last traded at $94.5120, with a volume of 150002 shares traded. The stock had previously closed at $94.65.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TD shares. Royal Bank Of Canada raised Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Friday, October 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, October 8th. Jefferies Financial Group cut shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. National Bank Financial upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Thursday, December 18th. Finally, Raymond James Financial upgraded shares of Toronto Dominion Bank to a “hold” rating in a research report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.

Toronto Dominion Bank Trading Down 0.2%

The business’s 50 day moving average is $85.19 and its two-hundred day moving average is $78.75. The firm has a market capitalization of $159.66 billion, a P/E ratio of 11.21, a PEG ratio of 1.32 and a beta of 0.69. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, December 4th. The bank reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $10.10 billion. During the same period in the prior year, the business posted $1.72 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year. Analysts expect that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Friday, January 9th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Friday, January 9th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.6%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.05. Toronto Dominion Bank’s dividend payout ratio (DPR) is presently 35.82%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its holdings in Toronto Dominion Bank by 18.5% in the second quarter. Canada Pension Plan Investment Board now owns 12,470,618 shares of the bank’s stock worth $917,832,000 after buying an additional 1,946,172 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Toronto Dominion Bank by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 13,815,706 shares of the bank’s stock valued at $1,010,852,000 after purchasing an additional 115,203 shares during the period. Triasima Portfolio Management inc. bought a new position in Toronto Dominion Bank in the 2nd quarter worth $8,492,000. Picton Mahoney Asset Management bought a new stake in Toronto Dominion Bank during the second quarter valued at about $267,475,000. Finally, Bank of New York Mellon Corp grew its position in shares of Toronto Dominion Bank by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 1,658,144 shares of the bank’s stock valued at $121,791,000 after purchasing an additional 51,698 shares during the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

About Toronto Dominion Bank

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.