Toronto Dominion Bank Sees Unusually High Options Volume (NYSE:TD)

Key Points

• Options Trading Surge: Toronto Dominion Bank experienced a significant increase in options trading, with investors purchasing 3,352 call options—an increase of 90% from the usual volume.
• Dividend Increase: The bank announced a quarterly dividend of $1.05 per share, up from the prior $0.76, resulting in an annualized dividend yield of 5.2%.
• Analyst Ratings: The consensus rating for Toronto Dominion Bank is "Hold," with recent upgrades by Royal Bank of Canada and Desjardins, while Zacks Research downgraded its rating from "strong-buy" to "hold."

Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD was the recipient of some unusual options trading on Friday. Investors purchased 3,352 call options on the company. This is an increase of 90% compared to the typical volume of 1,768 call options.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Toronto Dominion Bank by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 77,187,442 shares of the bank's stock worth $5,677,291,000 after acquiring an additional 2,552,603 shares in the last quarter. TD Asset Management Inc boosted its position in Toronto Dominion Bank by 0.9% during the 2nd quarter. TD Asset Management Inc now owns 37,365,008 shares of the bank's stock valued at $2,742,748,000 after purchasing an additional 329,429 shares during the period. Mackenzie Financial Corp boosted its position 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 valued at $1,752,806,000 after purchasing an additional 1,262,062 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Toronto Dominion Bank by 0.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 22,548,848 shares of the bank's stock worth $1,656,213,000 after buying an additional 101,678 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Toronto Dominion Bank during the second quarter worth $1,543,639,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TD. Royal Bank Of Canada upgraded Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a research report on Friday. Zacks Research cut Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Desjardins upgraded Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen cut Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Toronto Dominion Bank presently has a consensus rating of "Hold" and a consensus target price of $93.00.

Toronto Dominion Bank Trading Up 2.1%

Shares of NYSE TD traded up $1.68 during midday trading on Friday, hitting $81.31. The stock had a trading volume of 1,220,813 shares, compared to its average volume of 2,100,055. The company has a market capitalization of $138.30 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 1.73 and a beta of 0.80. Toronto Dominion Bank has a 1-year low of $51.25 and a 1-year high of $82.08. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. The company has a fifty day moving average price of $75.54 and a 200 day moving average price of $69.48.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings data on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.45. The business had revenue of $10.12 billion for the quarter, compared to analyst estimates of $13.73 billion. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The company's revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 EPS. On average, analysts predict that 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 Friday, October 31st. Investors of record on Friday, October 10th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Friday, October 10th. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.76. Toronto Dominion Bank's dividend payout ratio (DPR) is 36.10%.

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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