Zacks Investment Research lowered shares of Toronto–Dominion Bank (NYSE:TD) (TSE:TD) from a buy rating to a hold rating in a research note released on Thursday.
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. “
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Other research analysts have also recently issued reports about the stock. Desjardins raised shares of Toronto–Dominion Bank from a hold rating to a buy rating in a report on Friday, March 2nd. Bank of America increased their target price on shares of Toronto–Dominion Bank from $71.00 to $87.00 and gave the company a buy rating in a report on Tuesday, January 30th. ValuEngine cut shares of Toronto–Dominion Bank from a buy rating to a hold rating in a report on Tuesday, April 3rd. Finally, CIBC raised shares of Toronto–Dominion Bank from a neutral rating to an outperform rating in a report on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $76.60.
NYSE TD traded down $0.58 during trading hours on Thursday, hitting $58.48. 72,380 shares of the stock were exchanged, compared to its average volume of 1,325,197. The stock has a market capitalization of $109.04 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.16 and a beta of 0.95. Toronto–Dominion Bank has a 12-month low of $58.63 and a 12-month high of $58.98. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.11.
Toronto–Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, March 1st. The bank reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.06. The firm had revenue of $9.36 billion during the quarter, compared to analysts’ expectations of $8.96 billion. Toronto–Dominion Bank had a net margin of 22.12% and a return on equity of 15.76%. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 earnings per share. equities research analysts expect that Toronto–Dominion Bank will post 4.84 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 30th. Shareholders of record on Tuesday, April 10th were issued a $0.522 dividend. The ex-dividend date was Monday, April 9th. This is a boost from Toronto–Dominion Bank’s previous quarterly dividend of $0.47. This represents a $2.09 dividend on an annualized basis and a yield of 3.57%. Toronto–Dominion Bank’s dividend payout ratio (DPR) is 49.06%.
A number of institutional investors have recently modified their holdings of the business. Icon Wealth Partners LLC purchased a new position in shares of Toronto–Dominion Bank during the 4th quarter worth approximately $102,000. Synovus Financial Corp purchased a new position in shares of Toronto–Dominion Bank during the 1st quarter worth approximately $102,000. Calton & Associates Inc. purchased a new position in shares of Toronto–Dominion Bank during the 4th quarter worth approximately $141,000. Private Capital Group LLC increased its stake in shares of Toronto–Dominion Bank by 662.9% during the 1st quarter. Private Capital Group LLC now owns 2,388 shares of the bank’s stock worth $136,000 after purchasing an additional 2,075 shares in the last quarter. Finally, Institutional & Family Asset Management LLC purchased a new position in shares of Toronto–Dominion Bank during the 1st quarter worth approximately $136,000. 48.92% of the stock is owned by 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. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to small, medium, and large 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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