The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) announced a quarterly dividend on Thursday, May 26th, Zacks reports. Investors of record on Friday, July 8th will be paid a dividend of 0.692 per share by the bank on Sunday, July 31st. This represents a $2.77 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Thursday, July 7th.
Toronto-Dominion Bank has increased its dividend by an average of 8.1% annually over the last three years and has raised its dividend every year for the last 1 years. Toronto-Dominion Bank has a payout ratio of 41.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Toronto-Dominion Bank to earn $6.89 per share next year, which means the company should continue to be able to cover its $2.85 annual dividend with an expected future payout ratio of 41.4%.
Shares of TD stock opened at $74.63 on Friday. Toronto-Dominion Bank has a 1-year low of $62.81 and a 1-year high of $86.01. The company has a market cap of $134.84 billion, a P/E ratio of 11.73, a PEG ratio of 1.55 and a beta of 0.96. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.94 and a quick ratio of 0.94. The stock’s 50-day moving average is $75.30 and its 200 day moving average is $77.06.
Institutional investors have recently modified their holdings of the stock. Royal London Asset Management Ltd. acquired a new position in Toronto-Dominion Bank during the 1st quarter worth about $33,515,000. Parametric Portfolio Associates LLC increased its position in shares of Toronto-Dominion Bank by 7.9% during the fourth quarter. Parametric Portfolio Associates LLC now owns 863,410 shares of the bank’s stock worth $66,206,000 after acquiring an additional 63,073 shares during the period. BlackRock Inc. raised its stake in shares of Toronto-Dominion Bank by 6.3% in the first quarter. BlackRock Inc. now owns 914,064 shares of the bank’s stock valued at $72,595,000 after acquiring an additional 54,121 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in Toronto-Dominion Bank by 11.1% in the first quarter. Neuberger Berman Group LLC now owns 519,781 shares of the bank’s stock valued at $41,705,000 after purchasing an additional 51,934 shares during the period. Finally, Polar Capital Holdings Plc grew its stake in Toronto-Dominion Bank by 15.0% during the 1st quarter. Polar Capital Holdings Plc now owns 315,708 shares of the bank’s stock worth $27,953,000 after purchasing an additional 41,101 shares in the last quarter. Institutional investors own 50.00% of the company’s stock.
A number of equities research analysts have recently commented on the stock. National Bank Financial cut shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Monday, March 7th. Stifel Nicolaus lowered their target price on shares of Toronto-Dominion Bank from C$105.00 to C$104.00 in a research note on Friday, April 8th. StockNews.com assumed coverage on Toronto-Dominion Bank in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Scotiabank lowered their price target on Toronto-Dominion Bank from C$105.00 to C$102.00 in a research report on Friday, May 20th. Finally, Zacks Investment Research upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Friday, April 29th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $99.84.
About Toronto-Dominion Bank (Get Rating)
The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.
- Get a free copy of the StockNews.com research report on Toronto-Dominion Bank (TD)
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