The Toronto-Dominion Bank (NYSE:TD) Plans 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 4.44%. The ex-dividend date of this dividend 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 by an average of 8.0% annually over the last three years and has raised its dividend every year for the last 12 years. Toronto-Dominion Bank has a dividend payout ratio of 49.4% 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 $3.06 annual dividend with an expected future payout ratio of 51.4%.

Toronto-Dominion Bank Price Performance

TD stock traded up $0.49 during trading on Tuesday, hitting $68.19. The stock had a trading volume of 1,578,547 shares, compared to its average volume of 2,370,459. The company's 50 day moving average price is $61.70 and its two-hundred day moving average price is $58.30. Toronto-Dominion Bank has a 1-year low of $51.25 and a 1-year high of $68.74. The stock has a market cap of $118.37 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth 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 (NYSE:TD - Get Free Report) TSE: TD last announced its earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.14. Toronto-Dominion Bank had a net margin of 7.37% and a return on equity of 13.96%. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $13.36 billion. During the same quarter in the previous year, the company posted $2.04 EPS. On average, sell-side analysts forecast that Toronto-Dominion Bank will post 5.48 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on TD shares. Wall Street Zen raised shares of Toronto-Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday. Royal Bank of Canada upped their price objective on shares of Toronto-Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research note on Friday. Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, Scotiabank started coverage on shares of Toronto-Dominion Bank in a research note on Thursday, May 15th. They set a "sector perform" rating for the company. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $93.00.

Institutional Trading of Toronto-Dominion Bank

An institutional investor recently bought a new position in Toronto-Dominion Bank stock. AQR Capital Management LLC purchased a new position in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 9,482 shares of the bank's stock, valued at approximately $568,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.