Toronto Dominion Bank (The) (NYSE:TD) Sees Significant Growth in Short Interest

Key Points

• Short interest in Toronto Dominion Bank has surged by 57.5%, reaching 28 million shares as of July 15th, indicating a growing bearish sentiment among investors.
• Institutional ownership has increased, with more than 52% of the stock now held by institutional investors, reflecting increasing confidence in the bank's performance.
• The bank recently declared a quarterly dividend of $0.7568 per share, up from $0.73, resulting in an annualized dividend yield of 4.1%.

Toronto Dominion Bank (The) (NYSE:TD - Get Free Report) TSE: TD was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 28,000,000 shares, agrowthof57.5% from the June 30th total of 17,780,000 shares. Based on an average trading volume of 1,910,000 shares, the short-interest ratio is currently 14.7 days. Approximately1.6% of the company's shares are sold short. Approximately1.6% of the company's shares are sold short. Based on an average trading volume of 1,910,000 shares, the short-interest ratio is currently 14.7 days.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TD. Scotiabank began coverage on shares of Toronto Dominion Bank in a report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Royal Bank Of Canada lifted their target price 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. Finally, Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank Trading Up 0.5%

TD stock traded up $0.36 during midday trading on Friday, reaching $73.24. 960,129 shares of the company's stock traded hands, compared to its average volume of 1,816,567. The company has a market capitalization of $125.62 billion, a P/E ratio of 10.74, a PEG ratio of 1.65 and a beta of 0.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. Toronto Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $75.58. The business has a 50-day moving average price of $72.70 and a two-hundred day moving average price of $64.81.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, beating 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 net margin of 13.53% and a return on equity of 13.11%. During the same quarter in the previous year, the business posted $2.04 EPS. Equities research analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th were issued a $0.7568 dividend. The ex-dividend date was Thursday, July 10th. This represents a $3.03 dividend on an annualized basis and a yield of 4.1%. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's dividend payout ratio (DPR) is presently 45.31%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Larson Financial Group LLC raised its stake in shares of Toronto Dominion Bank by 122.9% in the 1st quarter. Larson Financial Group LLC now owns 428 shares of the bank's stock valued at $26,000 after purchasing an additional 236 shares in the last quarter. Financial Management Professionals Inc. increased its holdings in shares of Toronto Dominion Bank by 322.4% in the 1st quarter. Financial Management Professionals Inc. now owns 490 shares of the bank's stock worth $29,000 after acquiring an additional 374 shares during the period. Quaker Wealth Management LLC increased its stake in shares of Toronto Dominion Bank by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 428 shares of the bank's stock valued at $31,000 after purchasing an additional 856 shares during the period. Moisand Fitzgerald Tamayo LLC acquired a new stake in Toronto Dominion Bank in the 1st quarter valued at approximately $32,000. Finally, CoreCap Advisors LLC increased its stake in Toronto Dominion Bank by 57.5% during the 4th quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock valued at $34,000 after buying an additional 230 shares during the period. Institutional investors and hedge funds 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.