According to Zacks, “Toronto Dominion Bank is a Canadian chartered bank and offers a wide range of business and consumer services. These services include checking and savings accounts, credit cards, mortgage and student loans,trusts, wills, estate planning,investment management services and financial and advisory services. “
Other equities analysts also recently issued research reports about the stock. Canaccord Genuity restated a buy rating on shares of Toronto-Dominion Bank in a research report on Thursday, May 23rd. Barclays restated a hold rating on shares of Bank of Montreal in a research report on Tuesday, June 11th. National Bank Financial downgraded shares of Toronto-Dominion Bank from an outperform rating to a sector perform rating in a research report on Thursday, May 23rd. Finally, BMO Capital Markets restated a buy rating on shares of Toronto-Dominion Bank in a research report on Friday, May 24th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $72.00.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, May 23rd. The bank reported $1.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.50. The firm had revenue of $10.23 billion during the quarter, compared to analysts’ expectations of $9.46 billion. Toronto-Dominion Bank had a net margin of 20.24% and a return on equity of 16.21%. Toronto-Dominion Bank’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS. Analysts anticipate that Toronto-Dominion Bank will post 5.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.5511 per share. The ex-dividend date is Tuesday, July 9th. This represents a $2.20 dividend on an annualized basis and a yield of 3.76%. Toronto-Dominion Bank’s payout ratio is currently 44.93%.
A number of institutional investors have recently made changes to their positions in the business. NEXT Financial Group Inc raised its position in Toronto-Dominion Bank by 498.9% during the 2nd quarter. NEXT Financial Group Inc now owns 1,138 shares of the bank’s stock worth $66,000 after buying an additional 948 shares during the last quarter. Cornerstone Advisors Inc. raised its position in Toronto-Dominion Bank by 5.4% during the 2nd quarter. Cornerstone Advisors Inc. now owns 3,746 shares of the bank’s stock worth $219,000 after buying an additional 193 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its holdings in shares of Toronto-Dominion Bank by 0.3% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 136,084 shares of the bank’s stock valued at $7,942,000 after purchasing an additional 465 shares in the last quarter. Randolph Co Inc increased its holdings in shares of Toronto-Dominion Bank by 0.3% in the 2nd quarter. Randolph Co Inc now owns 164,163 shares of the bank’s stock valued at $9,581,000 after purchasing an additional 440 shares in the last quarter. Finally, Welch & Forbes LLC increased its holdings in shares of Toronto-Dominion Bank by 1.2% in the 2nd quarter. Welch & Forbes LLC now owns 364,181 shares of the bank’s stock valued at $21,254,000 after purchasing an additional 4,482 shares in the last quarter. Institutional investors own 48.13% of the company’s stock.
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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