Toronto-Dominion Bank (NYSE:TD) Posts Earnings Results, Beats Expectations By $0.14 EPS

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) posted its quarterly earnings results on Thursday. The bank reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.14, Zacks reports. Toronto-Dominion Bank had a net margin of 7.37% and a return on equity of 13.96%. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $13.36 billion. During the same quarter in the prior year, the company posted $2.04 earnings per share.

Toronto-Dominion Bank Price Performance

Shares of Toronto-Dominion Bank stock opened at $67.70 on Friday. Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $68.05. The stock’s fifty day moving average is $61.38 and its 200 day moving average is $58.13. The stock has a market cap of $117.51 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.95 and a beta of 0.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03.

Toronto-Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders 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. This represents a $3.03 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Thursday, July 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 85.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Royal Bank of Canada boosted their target price on shares of Toronto-Dominion Bank from $87.00 to $93.00 and gave the company a “sector perform” rating in a research note on Friday. Wall Street Zen upgraded Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Scotiabank started coverage on Toronto-Dominion Bank in a research note on Thursday, May 15th. They issued a “sector perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $88.50.

Hedge Funds Weigh In On Toronto-Dominion Bank

An institutional investor recently bought a new position in Toronto-Dominion Bank stock. AQR Capital Management LLC bought a new position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 9,482 shares of the bank’s stock, valued at approximately $568,000. 52.37% of the stock is 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.