Toronto-Dominion Bank (NYSE:TD) Reaches New 52-Week High - Time to Buy?

The Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $70.71 and last traded at $70.45, with a volume of 73597 shares. The stock had previously closed at $70.39.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. 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 report on Friday, May 23rd. Scotiabank assumed coverage on shares of Toronto-Dominion Bank in a research note on Thursday, May 15th. They set a "sector perform" rating on the stock. Jefferies Financial Group cut shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Finally, Wall Street Zen upgraded shares of Toronto-Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $93.00.

Toronto-Dominion Bank Trading Up 0.9%

The company's fifty day moving average price is $63.59 and its two-hundred day moving average price is $59.23. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The company has a market cap of $121.84 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.95 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.14. The firm had revenue of $10.97 billion during the quarter, compared to analysts' expectations 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 period last year, the firm posted $2.04 EPS. 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 declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be given a dividend of $0.7568 per share. This is an increase from Toronto-Dominion Bank's previous quarterly dividend of $0.73. The ex-dividend date is Thursday, July 10th. This represents a $3.03 annualized dividend and a yield of 4.28%. Toronto-Dominion Bank's dividend payout ratio is 44.72%.

Hedge Funds Weigh In On Toronto-Dominion Bank

A number of institutional investors have recently modified their holdings of the stock. Norges Bank bought a new position in Toronto-Dominion Bank in the 4th quarter worth approximately $992,204,000. Goldman Sachs Group Inc. raised its position in shares of Toronto-Dominion Bank by 93.9% during the first quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank's stock worth $732,252,000 after purchasing an additional 5,917,078 shares during the period. FIL Ltd raised its holdings 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 acquiring an additional 5,756,584 shares during the period. Federation des caisses Desjardins du Quebec lifted its stake in Toronto-Dominion Bank by 48.9% in 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 acquiring an additional 4,853,498 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Toronto-Dominion Bank by 81.6% during the first quarter. Canada Pension Plan Investment Board now owns 10,524,446 shares of the bank's stock worth $630,746,000 after purchasing an additional 4,729,657 shares during the last quarter. 52.37% of the stock is owned by institutional investors.

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.