The Toronto-Dominion Bank (NYSE:TD) Forecasted to Post Q3 2024 Earnings of $1.50 Per Share

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Research analysts at National Bank Financial cut their Q3 2024 earnings estimates for shares of Toronto-Dominion Bank in a note issued to investors on Thursday, May 2nd. National Bank Financial analyst G. Dechaine now expects that the bank will earn $1.50 per share for the quarter, down from their prior estimate of $1.52. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $5.77 per share. National Bank Financial also issued estimates for Toronto-Dominion Bank’s Q4 2024 earnings at $1.50 EPS, FY2024 earnings at $5.84 EPS and FY2025 earnings at $5.87 EPS.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, February 29th. The bank reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. The firm had revenue of $10.07 billion for the quarter, compared to the consensus estimate of $9.35 billion. Toronto-Dominion Bank had a return on equity of 14.15% and a net margin of 11.16%.

A number of other equities research analysts have also recently commented on TD. Barclays assumed coverage on Toronto-Dominion Bank in a research note on Wednesday, March 20th. They set an “equal weight” rating on the stock. Scotiabank upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, April 17th. Finally, Jefferies Financial Group began coverage on shares of Toronto-Dominion Bank in a research note on Thursday, February 22nd. They issued a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $89.33.

Toronto-Dominion Bank Stock Up 0.6 %

TD stock opened at $55.32 on Monday. The stock has a market cap of $97.54 billion, a P/E ratio of 11.82, a P/E/G ratio of 1.71 and a beta of 0.84. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.09. The stock’s fifty day simple moving average is $58.98 and its two-hundred day simple moving average is $60.00. Toronto-Dominion Bank has a 1-year low of $54.12 and a 1-year high of $66.15.

Institutional Trading of Toronto-Dominion Bank

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cooper Financial Group grew its stake in Toronto-Dominion Bank by 2.4% in the 4th quarter. Cooper Financial Group now owns 8,120 shares of the bank’s stock valued at $525,000 after buying an additional 188 shares in the last quarter. Cape Cod Five Cents Savings Bank boosted its holdings in shares of Toronto-Dominion Bank by 100.0% in the third quarter. Cape Cod Five Cents Savings Bank now owns 16,780 shares of the bank’s stock worth $1,011,000 after acquiring an additional 8,390 shares during the period. CWM LLC grew its position in shares of Toronto-Dominion Bank by 15.2% in the fourth quarter. CWM LLC now owns 6,528 shares of the bank’s stock valued at $422,000 after purchasing an additional 863 shares in the last quarter. Schechter Investment Advisors LLC raised its stake in shares of Toronto-Dominion Bank by 6.0% during the 4th quarter. Schechter Investment Advisors LLC now owns 7,697 shares of the bank’s stock valued at $497,000 after purchasing an additional 434 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. lifted its holdings in Toronto-Dominion Bank by 17.3% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,351,526 shares of the bank’s stock worth $87,784,000 after purchasing an additional 199,603 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 9th were paid a $0.7519 dividend. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. This represents a $3.01 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date was Monday, April 8th. Toronto-Dominion Bank’s payout ratio is currently 64.53%.

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.