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

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Toronto-Dominion Bank (NYSE:TD) (TSE:TD) saw unusually large options trading on Wednesday. Investors acquired 4,525 call options on the stock. This is an increase of 1,140% compared to the typical daily volume of 365 call options.

Shares of Toronto-Dominion Bank stock opened at $55.99 on Friday. The firm has a market capitalization of $102.13 billion, a PE ratio of 11.13, a P/E/G ratio of 1.91 and a beta of 1.03. Toronto-Dominion Bank has a twelve month low of $51.20 and a twelve month high of $59.55. The firm’s 50-day moving average price is $56.53 and its 200 day moving average price is $56.83. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.13.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, December 5th. The bank reported $1.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.31 by $0.28. The firm had revenue of $10.34 billion for the quarter, compared to analyst estimates of $10.08 billion. Toronto-Dominion Bank had a net margin of 19.76% and a return on equity of 15.69%. Toronto-Dominion Bank’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company posted $1.63 EPS. On average, sell-side analysts predict that Toronto-Dominion Bank will post 5.21 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be paid a $0.5605 dividend. The ex-dividend date is Thursday, January 9th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.55. This represents a $2.24 dividend on an annualized basis and a yield of 4.00%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 44.53%.

A number of equities research analysts have recently commented on TD shares. ValuEngine upgraded Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. CSFB cut Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $76.00 to $74.00 in a research report on Monday, October 28th. CIBC cut Toronto-Dominion Bank from a “sector outperform” rating to a “neutral” rating and set a $82.00 target price on the stock. in a research report on Thursday, November 21st. Desjardins restated a “buy” rating and set a $81.00 target price on shares of Toronto-Dominion Bank in a research report on Friday, November 22nd. Finally, Citigroup cut Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research report on Tuesday, December 17th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $78.08.

A number of institutional investors have recently modified their holdings of the stock. Pennsylvania Trust Co lifted its stake in Toronto-Dominion Bank by 7.1% in the 4th quarter. Pennsylvania Trust Co now owns 66,688 shares of the bank’s stock valued at $3,743,000 after buying an additional 4,420 shares in the last quarter. Nexus Investment Management Inc. lifted its stake in Toronto-Dominion Bank by 0.9% in the 4th quarter. Nexus Investment Management Inc. now owns 753,130 shares of the bank’s stock worth $42,301,000 after purchasing an additional 6,900 shares in the last quarter. Cox Capital Mgt LLC lifted its stake in Toronto-Dominion Bank by 2.9% in the 4th quarter. Cox Capital Mgt LLC now owns 39,437 shares of the bank’s stock worth $2,214,000 after purchasing an additional 1,119 shares in the last quarter. Beutel Goodman & Co Ltd. lifted its stake in Toronto-Dominion Bank by 4.3% in the 3rd quarter. Beutel Goodman & Co Ltd. now owns 23,747,019 shares of the bank’s stock worth $1,384,830,000 after purchasing an additional 985,612 shares in the last quarter. Finally, Resources Management Corp CT ADV purchased a new position in Toronto-Dominion Bank in the 3rd quarter worth approximately $8,046,000. 47.29% of the stock is currently 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.

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