Toronto-Dominion Bank (NYSE:TD) Releases Quarterly Earnings Results, Beats Expectations By $0.45 EPS

Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) released its quarterly earnings data on Thursday. The bank reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.45, Briefing.com reports. Toronto-Dominion Bank had a net margin of 30.57% and a return on equity of 16.18%. The firm had revenue of $11.26 billion for the quarter, compared to the consensus estimate of $10.18 billion. During the same quarter in the prior year, the company posted $1.62 earnings per share. The business’s revenue was up 10.1% on a year-over-year basis.

Shares of NYSE:TD opened at $74.63 on Friday. The firm has a market capitalization of $134.84 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 1.55 and a beta of 0.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.94. Toronto-Dominion Bank has a 52-week low of $62.81 and a 52-week high of $86.01. The firm has a fifty day moving average of $75.30 and a 200 day moving average of $77.06.

The business also recently declared a quarterly dividend, which was paid on Saturday, April 30th. Stockholders of record on Friday, April 8th were issued a $0.702 dividend. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, April 7th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.76%. Toronto-Dominion Bank’s dividend payout ratio is presently 44.81%.

A number of large investors have recently added to or reduced their stakes in the stock. Royal London Asset Management Ltd. bought a new stake in Toronto-Dominion Bank in the first quarter valued at approximately $33,515,000. Parametric Portfolio Associates LLC raised its stake 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 valued at $66,206,000 after acquiring an additional 63,073 shares during the last quarter. BlackRock Inc. grew 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 worth $72,595,000 after purchasing an additional 54,121 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in Toronto-Dominion Bank by 11.1% during the 1st 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 raised its position 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 valued at $27,953,000 after purchasing an additional 41,101 shares during the last quarter. Institutional investors own 50.00% of the company’s stock.

Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Friday, April 29th. Scotiabank lowered their target price on Toronto-Dominion Bank from C$105.00 to C$102.00 in a research note on Friday, May 20th. Stifel Nicolaus lowered their price objective on shares of Toronto-Dominion Bank from C$105.00 to C$104.00 in a research report on Friday, April 8th. National Bank Financial cut shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Monday, March 7th. Finally, CIBC downgraded Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating in a research report on Monday, April 11th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $99.84.

Toronto-Dominion Bank Company Profile (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.

Further Reading

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