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 research analysts have also recently issued research reports about the company. BMO Capital Markets restated a buy rating on shares of Toronto-Dominion Bank in a research report on Friday, May 24th. Canaccord Genuity reaffirmed a buy rating on shares of Toronto-Dominion Bank in a research note on Thursday, May 23rd. Barclays reaffirmed a hold rating on shares of Toronto-Dominion Bank in a research note on Thursday, May 23rd. Finally, National Bank Financial lowered Toronto-Dominion Bank from an outperform rating to a sector perform rating in a research note on Thursday, May 23rd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target 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 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.50. Toronto-Dominion Bank had a return on equity of 16.21% and a net margin of 20.24%. The company had revenue of $10.23 billion for the quarter, compared to analysts’ expectations of $9.46 billion. During the same quarter last year, the business earned $1.62 earnings per share. Toronto-Dominion Bank’s revenue was up 8.0% on a year-over-year basis. As a group, equities analysts anticipate that Toronto-Dominion Bank will post 5.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be paid a $0.5511 dividend. This represents a $2.20 annualized dividend and a yield of 3.89%. The ex-dividend date is Tuesday, July 9th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 44.14%.
A number of large investors have recently added to or reduced their stakes in the stock. Capital Investment Advisory Services LLC acquired a new stake in shares of Toronto-Dominion Bank during the fourth quarter valued at about $27,000. Citizens Financial Group Inc RI acquired a new stake in shares of Toronto-Dominion Bank during the first quarter valued at about $28,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Toronto-Dominion Bank during the first quarter valued at about $29,000. Farmers National Bank acquired a new stake in shares of Toronto-Dominion Bank during the first quarter valued at about $33,000. Finally, Manchester Capital Management LLC acquired a new stake in shares of Toronto-Dominion Bank during the first quarter valued at about $37,000. 48.21% of the stock is currently owned by institutional investors and hedge funds.
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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