The Toronto-Dominion Bank (NYSE:TD) to Issue Quarterly Dividend of $0.76

The Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD declared a quarterly dividend on Friday, May 23rd, Wall Street Journal reports. Investors of record on Thursday, July 10th will be paid a dividend of 0.7568 per share by the bank on Thursday, July 31st. This represents a $3.03 annualized dividend and a yield of 4.43%. The ex-dividend date is Thursday, July 10th. This is a 4.0% increase from Toronto-Dominion Bank's previous quarterly dividend of $0.73.

Toronto-Dominion Bank has increased its dividend payment by an average of 8.0% annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Toronto-Dominion Bank has a payout ratio of 50.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Toronto-Dominion Bank to earn $5.95 per share next year, which means the company should continue to be able to cover its $3.04 annual dividend with an expected future payout ratio of 51.1%.

Toronto-Dominion Bank Trading Up 1.0%

Shares of Toronto-Dominion Bank stock traded up $0.69 during trading hours on Tuesday, hitting $68.39. The company's stock had a trading volume of 124,848 shares, compared to its average volume of 2,365,040. The stock has a market cap of $118.72 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 1.95 and a beta of 0.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $68.39. The firm has a fifty day moving average of $61.54 and a 200-day moving average of $58.23.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.14. The business had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $13.36 billion. Toronto-Dominion Bank had a net margin of 7.37% and a return on equity of 13.96%. During the same period last year, the business earned $2.04 earnings per share. Research analysts forecast that Toronto-Dominion Bank will post 5.48 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Toronto-Dominion Bank stock. Focus Partners Wealth increased its holdings in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 27.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,970 shares of the bank's stock after acquiring an additional 5,410 shares during the period. Focus Partners Wealth's holdings in Toronto-Dominion Bank were worth $1,497,000 as of its most recent SEC filing. Institutional investors and hedge funds own 52.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Toronto-Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a research report on Friday. Scotiabank assumed coverage on shares of Toronto-Dominion Bank in a research note on Thursday, May 15th. They issued a "sector perform" rating for the company. Wall Street Zen upgraded Toronto-Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday. Finally, Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Toronto-Dominion Bank presently has a consensus rating of "Hold" and an average target price of $93.00.

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.