Toronto Dominion Bank (The) (NYSE:TD) Plans Quarterly Dividend of C$1.12

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) announced a quarterly dividend on Thursday, August 27th. Shareholders of record on Friday, October 9th will be given a dividend of 1.12 per share by the bank on Saturday, October 31st. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, October 9th.

Toronto Dominion Bank has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Toronto Dominion Bank has a dividend payout ratio of 50.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Toronto Dominion Bank to earn $7.80 per share next year, which means the company should continue to be able to cover its $3.15 annual dividend with an expected future payout ratio of 40.4%.

Toronto Dominion Bank Stock Up 1.4%

TD stock traded up $1.65 during trading hours on Thursday, hitting $121.08. The company’s stock had a trading volume of 2,941,691 shares, compared to its average volume of 2,453,650. The stock has a 50 day moving average price of $120.51 and a two-hundred day moving average price of $108.98. Toronto Dominion Bank has a 12 month low of $72.73 and a 12 month high of $125.46. The company has a market capitalization of $199.15 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 1.20 and a beta of 0.72. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The business had revenue of $11.80 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter last year, the firm earned $1.97 EPS. Toronto Dominion Bank’s revenue for the quarter was down 31.1% on a year-over-year basis. On average, equities research analysts expect that Toronto Dominion Bank will post 6.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TD shares. Wall Street Zen upgraded shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Scotiabank upgraded shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Keefe, Bruyette & Woods started coverage on shares of Toronto Dominion Bank in a research report on Friday, August 21st. They set a “market perform” rating for the company. Weiss Ratings upgraded shares of Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. Finally, Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $156.00.

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.