Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Equities research analysts at National Bank Financial dropped their Q2 2020 earnings estimates for Toronto-Dominion Bank in a research report issued on Tuesday, February 11th. National Bank Financial analyst G. Dechaine now forecasts that the bank will post earnings of $1.27 per share for the quarter, down from their prior estimate of $1.29. National Bank Financial also issued estimates for Toronto-Dominion Bank’s Q3 2020 earnings at $1.31 EPS and FY2020 earnings at $5.08 EPS.
Several other research firms have also issued reports on TD. Bank of America raised shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a report on Tuesday, February 4th. CSFB downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $76.00 to $74.00 in a research note on Monday, October 28th. Citigroup downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research note on Tuesday, December 17th. ValuEngine upgraded shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Canaccord Genuity lowered their price objective on shares of Toronto-Dominion Bank from $81.00 to $79.00 and set a “buy” rating for the company in a research note on Friday, December 6th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $78.42.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, December 5th. The bank reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.31 by $0.28. Toronto-Dominion Bank had a net margin of 19.76% and a return on equity of 15.69%. The business had revenue of $10.34 billion for the quarter, compared to analyst estimates of $10.08 billion. During the same period in the previous year, the company earned $1.63 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were paid a dividend of $0.5605 per share. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a dividend yield of 3.95%. The ex-dividend date was Thursday, January 9th. Toronto-Dominion Bank’s payout ratio is presently 45.33%.
Several large investors have recently bought and sold shares of TD. Financial Architects Inc lifted its position in Toronto-Dominion Bank by 2.3% during the fourth quarter. Financial Architects Inc now owns 8,520 shares of the bank’s stock valued at $478,000 after purchasing an additional 190 shares during the period. Claro Advisors LLC lifted its position in Toronto-Dominion Bank by 0.6% during the third quarter. Claro Advisors LLC now owns 30,845 shares of the bank’s stock valued at $1,797,000 after purchasing an additional 196 shares during the period. Valmark Advisers Inc. lifted its position in Toronto-Dominion Bank by 3.5% during the third quarter. Valmark Advisers Inc. now owns 5,764 shares of the bank’s stock valued at $336,000 after purchasing an additional 197 shares during the period. Norway Savings Bank lifted its position in Toronto-Dominion Bank by 13.5% during the third quarter. Norway Savings Bank now owns 1,679 shares of the bank’s stock valued at $98,000 after purchasing an additional 200 shares during the period. Finally, Sheaff Brock Investment Advisors LLC lifted its position in Toronto-Dominion Bank by 4.6% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 4,659 shares of the bank’s stock valued at $261,000 after purchasing an additional 205 shares during the period. Institutional investors and hedge funds own 47.59% of the company’s stock.
About Toronto-Dominion Bank
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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