Traders Buy High Volume of Call Options on Toronto-Dominion Bank (NYSE:TD)

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Toronto-Dominion Bank (NYSE:TD) (TSE:TD) was the target of unusually large options trading on Tuesday. Stock investors purchased 2,922 call options on the company. This is an increase of 1,943% compared to the average daily volume of 143 call options.

A number of equities analysts have recently issued reports on the company. Barclays raised Toronto-Dominion Bank from an “equal weight” rating to an “overweight” rating and set a $84.00 target price for the company in a research note on Tuesday, June 11th. Canaccord Genuity reissued a “buy” rating on shares of Toronto-Dominion Bank in a research note on Thursday, May 23rd. Zacks Investment Research raised Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Friday, August 9th. Bank of America downgraded Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and cut their target price for the stock from $82.00 to $77.00 in a research note on Thursday, August 15th. Finally, National Bank Financial raised Toronto-Dominion Bank from a “sector perform overweight” rating to an “outperform overweight” rating in a research note on Sunday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $74.67.

NYSE TD opened at $54.51 on Thursday. Toronto-Dominion Bank has a 1-year low of $47.73 and a 1-year high of $62.00. The company has a market capitalization of $99.96 billion, a P/E ratio of 10.84, a PEG ratio of 1.94 and a beta of 1.04. The business has a 50 day moving average price of $57.53 and a 200 day moving average price of $56.64. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.95 and a quick ratio of 0.95.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, May 23rd. The bank reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.50. Toronto-Dominion Bank had a return on equity of 16.21% and a net margin of 20.24%. The firm had revenue of $10.23 billion during the quarter, compared to the consensus estimate of $9.46 billion. During the same period last year, the business posted $1.62 EPS. Toronto-Dominion Bank’s quarterly revenue was up 8.0% on a year-over-year basis. On average, research analysts expect that Toronto-Dominion Bank will post 5.15 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th were paid a $0.5511 dividend. This represents a $2.20 annualized dividend and a yield of 4.04%. The ex-dividend date was Tuesday, July 9th. Toronto-Dominion Bank’s payout ratio is currently 44.93%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewSquare Capital LLC boosted its holdings in shares of Toronto-Dominion Bank by 4.4% during the second quarter. NewSquare Capital LLC now owns 26,041 shares of the bank’s stock worth $1,520,000 after purchasing an additional 1,102 shares during the last quarter. Cypress Capital Group boosted its holdings in shares of Toronto-Dominion Bank by 9.0% during the second quarter. Cypress Capital Group now owns 6,910 shares of the bank’s stock worth $403,000 after purchasing an additional 569 shares during the last quarter. Private Capital Group LLC boosted its holdings in shares of Toronto-Dominion Bank by 12.2% during the second quarter. Private Capital Group LLC now owns 2,450 shares of the bank’s stock worth $142,000 after purchasing an additional 266 shares during the last quarter. Summit Global Investments boosted its holdings in shares of Toronto-Dominion Bank by 12.8% during the second quarter. Summit Global Investments now owns 12,285 shares of the bank’s stock worth $717,000 after purchasing an additional 1,395 shares during the last quarter. Finally, Beaton Management Co. Inc. boosted its holdings in shares of Toronto-Dominion Bank by 7.1% during the second quarter. Beaton Management Co. Inc. now owns 94,002 shares of the bank’s stock worth $5,486,000 after purchasing an additional 6,220 shares during the last quarter. 47.45% of the stock is owned by hedge funds and other institutional investors.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.

Further Reading: How is a buy-side analyst different from a sell-side analyst?

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