Toronto Dominion Bank (NYSE:TD) Reaches New 1-Year High - Still a Buy?

Key Points

• Toronto Dominion's shares hit a new 52-week high of $102.08 and are trading above the MarketBeat consensus price target of $93, with an overall rating of Moderate Buy.
• The bank beat quarterly estimates, reporting EPS of $1.76 versus $1.63 expected and revenue of $11.01 billion, up 18.1% year-over-year.
• TD declared a quarterly dividend of $1.08 (annualized $4.32), yielding 4.2% with a payout ratio around 34.4%, suggesting dividend sustainability.

Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD's stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $102.08 and last traded at $102.0580, with a volume of 2641752 shares. The stock had previously closed at $100.71.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Weiss Ratings raised Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a report on Friday, March 27th. National Bank Financial raised Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a report on Thursday, December 18th. Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 12th. Wall Street Zen downgraded Toronto Dominion Bank from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Zacks Research raised Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 18th. Three investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Toronto Dominion Bank has a consensus rating of "Moderate Buy" and a consensus price target of $93.00.

Toronto Dominion Bank Trading Up 1.3%

The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.05 and a current ratio of 1.05. The business has a fifty day simple moving average of $95.89 and a 200 day simple moving average of $90.03. The company has a market cap of $170.03 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.15 and a beta of 0.65.

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

Toronto Dominion Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 9th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Thursday, April 9th. Toronto Dominion Bank's dividend payout ratio (DPR) is presently 34.36%.

Institutional Investors Weigh In On Toronto Dominion Bank

A number of hedge funds have recently added to or reduced their stakes in TD. True Wealth Design LLC bought a new stake in Toronto Dominion Bank in the third quarter valued at $27,000. Bayban bought a new stake in Toronto Dominion Bank in the fourth quarter valued at $28,000. Mather Group LLC. bought a new stake in Toronto Dominion Bank in the third quarter valued at $30,000. Harvest Fund Management Co. Ltd lifted its stake in Toronto Dominion Bank by 112.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank's stock valued at $30,000 after buying an additional 168 shares during the last quarter. Finally, Sachetta LLC bought a new stake in Toronto Dominion Bank in the third quarter valued at $33,000. 52.37% of the stock is currently owned by 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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