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

Shares of Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD reached a new 52-week high on Tuesday . The company traded as high as $71.92 and last traded at $71.82, with a volume of 52584 shares. The stock had previously closed at $71.18.

Analysts Set New Price Targets

Several research firms have weighed in on TD. Scotiabank assumed coverage on shares of Toronto Dominion Bank in a report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Royal Bank Of Canada upped their price objective on Toronto Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a report on Friday, May 23rd. One 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 data from MarketBeat.com, Toronto Dominion Bank presently has an average rating of "Hold" and an average target price of $93.00.

Toronto Dominion Bank Stock Up 1.2%

The firm has a 50 day simple moving average of $66.07 and a two-hundred day simple moving average of $60.23. The stock has a market capitalization of $124.09 billion, a P/E ratio of 10.55, a PEG ratio of 1.75 and a beta of 0.82. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.14. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $13.36 billion. During the same period in the prior year, the company earned $2.04 EPS. On average, equities research analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be paid a $0.7568 dividend. 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 4.20%. Toronto Dominion Bank's dividend payout ratio is presently 44.72%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Toronto Dominion Bank by 0.7% in the first quarter. Vanguard Group Inc. now owns 74,634,839 shares of the bank's stock valued at $4,472,194,000 after purchasing an additional 516,288 shares during the last quarter. FIL Ltd raised its holdings in Toronto Dominion Bank by 17.3% in the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank's stock valued at $2,075,819,000 after buying an additional 5,756,584 shares during the last quarter. TD Asset Management Inc boosted its position in Toronto Dominion Bank by 0.4% during the 1st quarter. TD Asset Management Inc now owns 37,035,579 shares of the bank's stock worth $2,218,918,000 after buying an additional 162,563 shares during the period. Mackenzie Financial Corp grew its holdings in Toronto Dominion Bank by 4.5% during the 1st quarter. Mackenzie Financial Corp now owns 29,252,736 shares of the bank's stock worth $1,752,806,000 after acquiring an additional 1,262,062 shares during the last quarter. Finally, Norges Bank bought a new stake in Toronto Dominion Bank during the 4th quarter worth approximately $992,204,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.

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