Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Research analysts at Cormark boosted their FY2019 earnings per share estimates for shares of Toronto-Dominion Bank in a report issued on Monday, November 18th. Cormark analyst M. Grauman now forecasts that the bank will post earnings per share of $5.21 for the year, up from their previous forecast of $5.20.
Other equities research analysts have also recently issued reports about the company. ValuEngine cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 13th. Canaccord Genuity set a $81.00 price objective on Toronto-Dominion Bank and gave the company a “buy” rating in a research note on Friday, August 30th. Bank of America cut Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $82.00 to $77.00 in a research note on Thursday, August 15th. BMO Capital Markets cut Toronto-Dominion Bank from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $85.00 to $78.00 in a research note on Friday, August 30th. Finally, Desjardins lowered their price objective on Toronto-Dominion Bank from $83.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $78.36.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, August 29th. The bank reported $1.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.45. The company had revenue of $10.50 billion for the quarter, compared to the consensus estimate of $9.80 billion. Toronto-Dominion Bank had a net margin of 20.02% and a return on equity of 16.08%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.66 EPS.
The business also recently declared a — dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were given a dividend of $0.556 per share. This represents a dividend yield of 4.1%. The ex-dividend date was Wednesday, October 9th. Toronto-Dominion Bank’s dividend payout ratio is presently 44.53%.
Institutional investors and hedge funds have recently made changes to their positions in the company. KCS Wealth Advisory bought a new stake in shares of Toronto-Dominion Bank during the third quarter valued at about $30,000. Cullen Frost Bankers Inc. bought a new stake in shares of Toronto-Dominion Bank during the third quarter valued at about $38,000. Sandy Spring Bank increased its position in shares of Toronto-Dominion Bank by 640.7% during the second quarter. Sandy Spring Bank now owns 800 shares of the bank’s stock valued at $47,000 after buying an additional 692 shares during the period. North Star Investment Management Corp. bought a new stake in shares of Toronto-Dominion Bank during the third quarter valued at about $49,000. Finally, Coastal Capital Group Inc. bought a new stake in shares of Toronto-Dominion Bank during the second quarter valued at about $51,000. Hedge funds and other institutional investors own 48.39% 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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