Toronto Dominion Bank (NYSE:TD) Sets New 12-Month High – What’s Next?

Shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) reached a new 52-week high during trading on Thursday . The stock traded as high as $99.04 and last traded at $97.3320, with a volume of 2397577 shares traded. The stock had previously closed at $98.58.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Raymond James Financial raised shares of Toronto Dominion Bank to a “hold” rating in a report on Monday, November 24th. Natl Bk Canada upgraded Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th. Jefferies Financial Group downgraded Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Wall Street Zen downgraded Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Finally, National Bank Financial raised Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $93.00.

Toronto Dominion Bank Stock Performance

The company has a 50-day moving average of $93.72 and a 200-day moving average of $83.70. The firm has a market capitalization of $163.36 billion, a price-to-earnings ratio of 11.55, a price-to-earnings-growth ratio of 1.35 and a beta of 0.67. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $10.10 billion. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. The firm’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.72 earnings per share. On average, equities research analysts forecast that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Friday, January 9th were paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 4.4%. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, January 9th. Toronto Dominion Bank’s dividend payout ratio (DPR) is currently 37.25%.

Hedge Funds Weigh In On Toronto Dominion Bank

Institutional investors have recently made changes to their positions in the stock. Principal Securities Inc. lifted its holdings in shares of Toronto Dominion Bank by 20.8% in the 4th quarter. Principal Securities Inc. now owns 21,034 shares of the bank’s stock worth $1,981,000 after purchasing an additional 3,617 shares during the last quarter. Aviva PLC increased its position in Toronto Dominion Bank by 5.4% in the fourth quarter. Aviva PLC now owns 1,467,456 shares of the bank’s stock worth $138,412,000 after buying an additional 75,352 shares during the period. Burkett Asset Management Ltd acquired a new stake in Toronto Dominion Bank in the fourth quarter worth $4,554,000. Xponance LLC bought a new stake in Toronto Dominion Bank in the fourth quarter valued at $676,000. Finally, Nuveen LLC boosted its holdings in shares of Toronto Dominion Bank by 22.2% during the fourth quarter. Nuveen LLC now owns 1,466,819 shares of the bank’s stock valued at $138,426,000 after acquiring an additional 266,116 shares during the period. 52.37% of the stock is owned by institutional investors.

About Toronto Dominion Bank

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.