Desjardins Weighs in on The Toronto-Dominion Bank’s FY2024 Earnings (NYSE:TD)

The Toronto-Dominion Bank (NYSE:TDFree Report) (TSE:TD) – Investment analysts at Desjardins decreased their FY2024 EPS estimates for Toronto-Dominion Bank in a research note issued to investors on Tuesday, February 6th. Desjardins analyst D. Young now expects that the bank will post earnings per share of $5.81 for the year, down from their previous estimate of $5.88. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $5.88 per share. Desjardins also issued estimates for Toronto-Dominion Bank’s FY2025 earnings at $6.25 EPS.

Toronto-Dominion Bank (NYSE:TDGet Free Report) (TSE:TD) last released its earnings results on Thursday, November 30th. The bank reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by ($0.04). Toronto-Dominion Bank had a net margin of 10.65% and a return on equity of 14.68%. The business had revenue of $13.19 billion for the quarter, compared to analysts’ expectations of $9.02 billion. During the same quarter in the previous year, the business posted $1.64 earnings per share. Toronto-Dominion Bank’s revenue for the quarter was up 7.7% on a year-over-year basis.

Other equities analysts have also issued reports about the stock. Bank of America lowered shares of Toronto-Dominion Bank from a “buy” rating to a “neutral” rating in a report on Monday, December 18th. Scotiabank lowered shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, December 20th. StockNews.com upgraded shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a report on Monday, December 4th. Finally, CIBC lowered shares of Toronto-Dominion Bank from a “sector outperform” rating to a “neutral” rating in a research note on Wednesday, November 22nd. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $93.00.

View Our Latest Stock Analysis on Toronto-Dominion Bank

Toronto-Dominion Bank Price Performance

Shares of NYSE TD opened at $59.08 on Thursday. Toronto-Dominion Bank has a twelve month low of $54.69 and a twelve month high of $70.67. The firm has a market cap of $104.85 billion, a P/E ratio of 14.24, a PEG ratio of 2.31 and a beta of 0.87. The company has a 50 day moving average of $61.62 and a 200 day moving average of $61.00. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.09.

Institutional Investors Weigh In On Toronto-Dominion Bank

A number of hedge funds have recently modified their holdings of TD. Raymond James Trust N.A. raised its position in Toronto-Dominion Bank by 1.7% in the 1st quarter. Raymond James Trust N.A. now owns 9,868 shares of the bank’s stock worth $784,000 after purchasing an additional 161 shares during the period. Western Wealth Management LLC raised its position in Toronto-Dominion Bank by 2.2% in the 2nd quarter. Western Wealth Management LLC now owns 7,436 shares of the bank’s stock worth $461,000 after purchasing an additional 162 shares during the period. Daymark Wealth Partners LLC raised its position in Toronto-Dominion Bank by 4.1% in the 3rd quarter. Daymark Wealth Partners LLC now owns 4,314 shares of the bank’s stock worth $260,000 after purchasing an additional 170 shares during the period. Centaurus Financial Inc. raised its position in Toronto-Dominion Bank by 7.7% in the 1st quarter. Centaurus Financial Inc. now owns 2,447 shares of the bank’s stock worth $147,000 after purchasing an additional 174 shares during the period. Finally, Private Trust Co. NA raised its position in Toronto-Dominion Bank by 10.6% in the 4th quarter. Private Trust Co. NA now owns 1,808 shares of the bank’s stock worth $117,000 after purchasing an additional 174 shares during the period. Institutional investors own 51.52% of the company’s stock.

Toronto-Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th were given a dividend of $0.7506 per share. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 5.08%. Toronto-Dominion Bank’s payout ratio is presently 68.19%.

About Toronto-Dominion Bank

(Get Free Report)

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.

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Earnings History and Estimates for Toronto-Dominion Bank (NYSE:TD)

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