Toronto Dominion Bank (NYSE:TD) Hits New 12-Month High - Here's What Happened

Key Points

• 52-week high: Toronto Dominion Bank shares reached a new 52-week high of $105.75 during mid-day trading, last trading at $105.7490 on volume of about 3.34 million shares.
• Earnings beat: TD reported Q results of $1.76 EPS (vs. $1.63 expected) and $11.01 billion in revenue (vs. $10.43 billion), with revenue up 18.1% year-over-year.
• Dividend and analyst view: The bank declared a $1.08 quarterly dividend (annualized $4.32, yield ~4.1%), while MarketBeat’s consensus is a "Moderate Buy" with an average target of $93.00.

Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD's share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $105.75 and last traded at $105.7490, with a volume of 3340351 shares trading hands. The stock had previously closed at $105.35.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TD shares. Wall Street Zen cut shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research report on Saturday, April 11th. Zacks Research upgraded shares of Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 18th. Canadian Imperial Bank of Commerce cut shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. Finally, Weiss Ratings upgraded shares of Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a research report on Friday, March 27th. Three investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Toronto Dominion Bank currently has a consensus rating of "Moderate Buy" and an average target price of $93.00.

Toronto Dominion Bank Stock Performance

The stock has a 50-day moving average of $96.58 and a 200 day moving average of $90.72. The stock has a market cap of $175.33 billion, a PE ratio of 11.70, a P/E/G ratio of 1.20 and a beta of 0.65. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.13. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The company had revenue of $11.01 billion during the quarter, compared to analysts' expectations of $10.43 billion. During the same period in the prior year, the business earned $2.02 EPS. The firm's quarterly revenue was up 18.1% on a year-over-year basis. Equities analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 9th will be issued a $1.08 dividend. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.1%. Toronto Dominion Bank's dividend payout ratio is currently 34.36%.

Hedge Funds Weigh In On Toronto Dominion Bank

A number of institutional investors have recently bought and sold shares of TD. Main Line Retirement Advisors LLC increased its holdings in shares of Toronto Dominion Bank by 0.9% during the 4th quarter. Main Line Retirement Advisors LLC now owns 12,152 shares of the bank's stock worth $1,145,000 after buying an additional 109 shares during the last quarter. Rosenberg Matthew Hamilton lifted its holdings in Toronto Dominion Bank by 8.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 1,489 shares of the bank's stock valued at $140,000 after acquiring an additional 118 shares during the last quarter. Richardson Financial Services Inc. grew its position in Toronto Dominion Bank by 12.4% in the fourth quarter. Richardson Financial Services Inc. now owns 1,104 shares of the bank's stock worth $104,000 after acquiring an additional 122 shares during the period. Commons Capital LLC increased its stake in Toronto Dominion Bank by 0.7% during the third quarter. Commons Capital LLC now owns 18,251 shares of the bank's stock worth $1,459,000 after acquiring an additional 134 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in Toronto Dominion Bank by 4.8% during the third quarter. CIBC Private Wealth Group LLC now owns 2,912 shares of the bank's stock worth $233,000 after acquiring an additional 134 shares during the last quarter. 52.37% of the stock is 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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