Toronto-Dominion Bank (NYSE:TD) Reaches New 12-Month High - Still a Buy?

Shares of The Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD hit a new 52-week high on Monday . The stock traded as high as $69.38 and last traded at $69.08, with a volume of 142796 shares trading hands. The stock had previously closed at $69.05.

Analysts Set New Price Targets

Several brokerages recently commented on TD. Royal Bank of Canada upped their target price on Toronto-Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research report on Friday, May 23rd. Wall Street Zen upgraded Toronto-Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Scotiabank began coverage on Toronto-Dominion Bank in a research report on Thursday, May 15th. They set a "sector perform" rating on the stock. Finally, Jefferies Financial Group lowered 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 issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Toronto-Dominion Bank currently has an average rating of "Hold" and a consensus price target of $93.00.

Toronto-Dominion Bank Trading Up 0.5%

The firm has a fifty day simple moving average of $62.73 and a 200-day simple moving average of $58.82. The firm has a market cap of $120.47 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.95 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03.

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 (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.14. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $13.36 billion. Toronto-Dominion Bank had a return on equity of 13.96% and a net margin of 7.37%. During the same quarter in the prior year, the company earned $2.04 earnings per share. On average, equities research analysts expect that The Toronto-Dominion Bank will post 5.48 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be issued a $0.7568 dividend. This represents a $3.03 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend is Thursday, July 10th. This is a positive change from Toronto-Dominion Bank's previous quarterly dividend of $0.73. Toronto-Dominion Bank's dividend payout ratio (DPR) is currently 44.72%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Asahi Life Asset Management CO. LTD. bought a new position in shares of Toronto-Dominion Bank in the fourth quarter valued at approximately $416,000. Vanguard Group Inc. lifted its holdings in shares of Toronto-Dominion Bank by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock valued at $3,946,072,000 after purchasing an additional 1,415,934 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Toronto-Dominion Bank by 3.4% in the fourth quarter. JPMorgan Chase & Co. now owns 7,213,418 shares of the bank's stock valued at $384,042,000 after purchasing an additional 236,037 shares in the last quarter. Nicola Wealth Management LTD. lifted its holdings in shares of Toronto-Dominion Bank by 15.5% in the fourth quarter. Nicola Wealth Management LTD. now owns 510,002 shares of the bank's stock valued at $27,153,000 after purchasing an additional 68,400 shares in the last quarter. Finally, Te Ahumairangi Investment Management Ltd lifted its holdings in shares of Toronto-Dominion Bank by 21.2% in the fourth quarter. Te Ahumairangi Investment Management Ltd now owns 63,581 shares of the bank's stock valued at $3,383,000 after purchasing an additional 11,100 shares in the last quarter. Institutional investors own 52.37% of the company's stock.

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.