Toronto Dominion Bank (NYSE:TD) Releases Earnings Results, Beats Estimates By $0.10 EPS

Toronto Dominion Bank (NYSE:TD) (TSE:TD) announced its earnings results on Thursday. The bank reported $1.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10, Zacks reports. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $10.10 billion. During the same period in the previous year, the firm earned $1.72 earnings per share. Toronto Dominion Bank’s revenue for the quarter was down .1% compared to the same quarter last year.

Toronto Dominion Bank Stock Up 1.4%

Shares of NYSE TD traded up $1.22 during mid-day trading on Thursday, reaching $85.59. The company had a trading volume of 1,317,480 shares, compared to its average volume of 2,037,955. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. Toronto Dominion Bank has a twelve month low of $51.25 and a twelve month high of $85.98. The stock’s 50 day moving average is $81.19 and its 200-day moving average is $75.92. The stock has a market capitalization of $144.61 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 1.38 and a beta of 0.69.

Analysts Set New Price Targets

TD has been the topic of several recent analyst reports. Desjardins upgraded Toronto Dominion Bank from a “hold” rating to a “buy” rating in a report on Wednesday, August 13th. Zacks Research lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Royal Bank Of Canada upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Toronto Dominion Bank in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group downgraded shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. CIBC Private Wealth Group LLC lifted its holdings in shares of Toronto Dominion Bank by 4.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,912 shares of the bank’s stock valued at $233,000 after buying an additional 134 shares during the last quarter. Moors & Cabot Inc. raised its position in Toronto Dominion Bank by 0.7% during the third quarter. Moors & Cabot Inc. now owns 25,137 shares of the bank’s stock valued at $2,010,000 after acquiring an additional 167 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in Toronto Dominion Bank by 0.9% in the third quarter. Integrated Wealth Concepts LLC now owns 22,057 shares of the bank’s stock valued at $1,763,000 after acquiring an additional 191 shares during the last quarter. United Capital Financial Advisors LLC grew its position in Toronto Dominion Bank by 4.7% in the third quarter. United Capital Financial Advisors LLC now owns 4,416 shares of the bank’s stock worth $353,000 after acquiring an additional 197 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Toronto Dominion Bank by 3.1% during the 3rd quarter. NewEdge Advisors LLC now owns 8,286 shares of the bank’s stock worth $663,000 after purchasing an additional 247 shares during the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

About Toronto Dominion Bank

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.