Desjardins Weighs in on The Toronto-Dominion Bank’s Q3 2024 Earnings (NYSE:TD)

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Investment analysts at Desjardins dropped their Q3 2024 earnings estimates for shares of Toronto-Dominion Bank in a report released on Thursday, May 23rd. Desjardins analyst D. Young now expects that the bank will earn $1.44 per share for the quarter, down from their prior forecast of $1.51. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $5.73 per share.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, May 23rd. The bank reported $1.50 EPS for the quarter, topping the consensus estimate of $1.35 by $0.15. The company had revenue of $10.18 billion during the quarter, compared to the consensus estimate of $9.90 billion. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.35%.

Several other analysts also recently issued reports on TD. National Bank Financial downgraded shares of Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a report on Thursday. Barclays began coverage on Toronto-Dominion Bank in a research report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. BMO Capital Markets reduced their price objective on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a research report on Friday. Scotiabank upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, April 17th. Finally, Jefferies Financial Group began coverage on shares of Toronto-Dominion Bank in a research report on Thursday, February 22nd. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $88.00.

Toronto-Dominion Bank Stock Up 2.8 %

Shares of TD stock opened at $56.56 on Monday. The stock’s 50 day simple moving average is $58.05 and its 200 day simple moving average is $59.95. Toronto-Dominion Bank has a twelve month low of $54.12 and a twelve month 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 company has a market capitalization of $99.52 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.75 and a beta of 0.84.

Institutional Trading of Toronto-Dominion Bank

Large investors have recently made changes to their positions in the business. Canoe Financial LP raised its holdings in Toronto-Dominion Bank by 2,035.4% during the 4th quarter. Canoe Financial LP now owns 42,808,439 shares of the bank’s stock worth $2,766,281,000 after purchasing an additional 40,803,711 shares during the last quarter. Norges Bank acquired a new position in shares of Toronto-Dominion Bank in the 4th quarter valued at $1,478,898,000. TD Asset Management Inc increased its position in shares of Toronto-Dominion Bank by 28.9% in the 4th quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock valued at $3,017,384,000 after buying an additional 10,415,591 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in Toronto-Dominion Bank during the 4th quarter worth $184,389,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Toronto-Dominion Bank by 20.1% during the third quarter. The Manufacturers Life Insurance Company now owns 17,134,868 shares of the bank’s stock worth $1,039,691,000 after acquiring an additional 2,870,662 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Cuts Dividend

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

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.