Toronto-Dominion Bank (NYSE:TD) Posts Earnings Results, Beats Expectations By $0.15 EPS

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) released its quarterly earnings data on Thursday. The bank reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.15, reports. The business had revenue of $10.18 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.35%.

Toronto-Dominion Bank Stock Up 2.8 %

Toronto-Dominion Bank stock opened at $56.55 on Friday. Toronto-Dominion Bank has a fifty-two week low of $54.12 and a fifty-two week high of $66.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50-day simple moving average is $58.05 and its 200 day simple moving average is $59.93. The stock has a market cap of $99.50 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.71 and a beta of 0.84.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio is 68.64%.

Institutional Trading of Toronto-Dominion Bank

A number of hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp boosted its stake in Toronto-Dominion Bank by 52.2% in the third quarter. Fifth Third Bancorp now owns 1,997 shares of the bank’s stock valued at $120,000 after acquiring an additional 685 shares during the last quarter. MGO One Seven LLC grew its holdings in Toronto-Dominion Bank by 5.6% during the third quarter. MGO One Seven LLC now owns 10,270 shares of the bank’s stock valued at $619,000 after purchasing an additional 541 shares during the period. Corient Private Wealth LLC increased its position in Toronto-Dominion Bank by 1.1% in the third quarter. Corient Private Wealth LLC now owns 167,315 shares of the bank’s stock worth $10,082,000 after buying an additional 1,873 shares during the last quarter. Signaturefd LLC raised its stake in shares of Toronto-Dominion Bank by 21.1% in the third quarter. Signaturefd LLC now owns 17,788 shares of the bank’s stock valued at $1,072,000 after buying an additional 3,101 shares during the period. Finally, Syon Capital LLC purchased a new position in shares of Toronto-Dominion Bank during the 3rd quarter valued at $370,000. 52.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TD has been the subject of several recent research reports. Barclays started coverage on shares of Toronto-Dominion Bank in a research report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Jefferies Financial Group began coverage on Toronto-Dominion Bank in a report on Thursday, February 22nd. They issued a “hold” rating for the company. Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, April 17th. BMO Capital Markets decreased their price target on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a research note on Friday. Finally, National Bank Financial lowered Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $88.00.

Toronto-Dominion Bank Company Profile

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.