Toronto Dominion Bank (The) (NYSE:TD) Plans Dividend Increase – $1.05 Per Share

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) declared a quarterly dividend on Thursday, August 28th, RTT News reports. Stockholders of record on Friday, October 10th will be paid a dividend of 1.05 per share by the bank on Friday, October 31st. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. This is a 38.7% increase from Toronto Dominion Bank’s previous quarterly dividend of $0.76.

Toronto Dominion Bank has a payout ratio of 49.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Toronto Dominion Bank to earn $5.95 per share next year, which means the company should continue to be able to cover its $3.06 annual dividend with an expected future payout ratio of 51.4%.

Toronto Dominion Bank Stock Performance

Shares of TD stock opened at $72.86 on Friday. The business’s fifty day simple moving average is $73.70 and its 200-day simple moving average is $66.40. The company has a market cap of $124.97 billion, a PE ratio of 10.68, a PEG ratio of 1.67 and a beta of 0.84. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 12-month low of $51.25 and a 12-month high of $78.95.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.45. The business had revenue of $10.12 billion for the quarter, compared to the consensus estimate of $13.73 billion. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%.The business’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 earnings per share. Analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TD shares. Zacks Research lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Desjardins raised shares of Toronto Dominion Bank from a “hold” rating to a “buy” rating in a report on Wednesday, August 13th. Wall Street Zen raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, May 24th. Scotiabank initiated coverage on shares of Toronto Dominion Bank in a report on Thursday, May 15th. They issued a “sector perform” rating on the stock. Finally, Royal Bank Of Canada upped their price target on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the company a “sector perform” rating in a report on Friday, May 23rd. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Toronto Dominion Bank currently has an average rating of “Hold” and an average target price of $93.00.

Toronto Dominion Bank Company Profile

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