Toronto Dominion Bank (NYSE:TD) Announces Earnings Results

Key Points

• Toronto Dominion Bank reported quarterly EPS of $1.98, beating analysts’ consensus estimate of $1.74 by $0.24. The bank posted a 14.83% return on equity and a 13.20% net margin.
• TD shares opened at $119.49, near their 52-week high of $125.46, with a market capitalization of approximately $196.54 billion.
• Analyst sentiment improved, with multiple firms upgrading the stock; TD has a consensus rating of “Moderate Buy” and an average price target of $156.00. Institutional investors own 52.37% of the shares.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD posted its earnings results on Thursday. The bank reported $1.98 EPS for the quarter, topping analysts' consensus estimates of $1.74 by $0.24, Zacks reports. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.

Toronto Dominion Bank Stock Up 0.4%

Shares of NYSE:TD opened at $119.49 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 52-week low of $72.73 and a 52-week high of $125.46. The company has a 50 day moving average of $120.51 and a two-hundred day moving average of $108.98. The company has a market capitalization of $196.54 billion, a price-to-earnings ratio of 18.64, a price-to-earnings-growth ratio of 1.20 and a beta of 0.72.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TD. Scotiabank upgraded Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, May 4th. Weiss Ratings raised shares of Toronto Dominion Bank from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, August 5th. Royal Bank Of Canada increased their price target on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an "outperform" rating in a research note on Monday, June 1st. Raymond James Financial raised Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $156.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. CIBC Private Wealth Group LLC lifted its holdings in Toronto Dominion Bank by 4.8% in the third quarter. CIBC Private Wealth Group LLC now owns 2,912 shares of the bank's stock valued at $233,000 after acquiring an additional 134 shares during the period. Moors & Cabot Inc. increased its position in shares of Toronto Dominion Bank by 0.7% during the third quarter. Moors & Cabot Inc. now owns 25,137 shares of the bank's stock worth $2,010,000 after purchasing an additional 167 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Toronto Dominion Bank by 0.9% in the third quarter. Integrated Wealth Concepts LLC now owns 22,057 shares of the bank's stock valued at $1,763,000 after buying an additional 191 shares during the last quarter. United Capital Financial Advisors LLC grew its position in shares of Toronto Dominion Bank by 4.7% in the third quarter. United Capital Financial Advisors LLC now owns 4,416 shares of the bank's stock valued at $353,000 after purchasing an additional 197 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in shares of Toronto Dominion Bank by 2.3% during the 4th quarter. First Citizens Bank & Trust Co. now owns 9,920 shares of the bank's stock worth $934,000 after acquiring an additional 226 shares during the period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

About Toronto Dominion Bank

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada's largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD's core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.

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