Toronto Dominion Bank (NYSE:TD) Sets New 12-Month High - Should You Buy?

Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD shares hit a new 52-week high during trading on Monday . The stock traded as high as $71.48 and last traded at $71.36, with a volume of 87327 shares traded. The stock had previously closed at $70.80.

Analysts Set New Price Targets

TD has been the subject of a number of recent analyst reports. Scotiabank began coverage on Toronto Dominion Bank in a report on Thursday, May 15th. They set a "sector perform" rating for the company. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Royal Bank Of Canada raised their target price on Toronto Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, Toronto Dominion Bank has an average rating of "Hold" and a consensus target price of $93.00.

Toronto Dominion Bank Stock Up 0.6%

The business's fifty day simple moving average is $65.31 and its 200 day simple moving average is $59.82. The stock has a market cap of $122.83 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82. The company has a current ratio of 1.03, a quick ratio of 1.03 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, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.14. The firm had revenue of $10.97 billion for the quarter, compared to analysts' expectations of $13.36 billion. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%. During the same quarter last year, the business earned $2.04 earnings per share. Equities analysts forecast that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th will be paid a $0.7568 dividend. This represents a $3.03 annualized dividend and a yield of 4.25%. The ex-dividend date is Thursday, July 10th. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's dividend payout ratio is presently 42.82%.

Hedge Funds Weigh In On Toronto Dominion Bank

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in Toronto Dominion Bank during the 4th quarter worth $992,204,000. Goldman Sachs Group Inc. increased its holdings in shares of Toronto Dominion Bank by 93.9% in the first quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank's stock worth $732,252,000 after acquiring an additional 5,917,078 shares in the last quarter. FIL Ltd raised its position in shares of Toronto Dominion Bank by 17.3% during the fourth quarter. FIL Ltd now owns 38,989,749 shares of the bank's stock worth $2,075,819,000 after purchasing an additional 5,756,584 shares during the period. Federation des caisses Desjardins du Quebec lifted its holdings in shares of Toronto Dominion Bank by 48.9% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 14,785,565 shares of the bank's stock valued at $886,174,000 after purchasing an additional 4,853,498 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of Toronto Dominion Bank by 81.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 10,524,446 shares of the bank's stock valued at $630,746,000 after purchasing an additional 4,729,657 shares during the period. Institutional investors and hedge funds own 52.37% of the company's stock.

About Toronto Dominion Bank

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.