Toronto Dominion Bank (The) (NYSE:TD) Short Interest Update

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) saw a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 4,127,228 shares, a decline of 57.7% from the April 30th total of 9,747,325 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 1,339,140 shares, the short-interest ratio is currently 3.1 days.

Toronto Dominion Bank Stock Down 2.4%

Shares of TD traded down $2.77 during mid-day trading on Monday, hitting $110.81. The company’s stock had a trading volume of 4,698,137 shares, compared to its average volume of 1,453,331. The company’s 50-day moving average is $103.24 and its 200-day moving average is $96.16. Toronto Dominion Bank has a 52-week low of $68.99 and a 52-week high of $114.26. The firm has a market capitalization of $183.52 billion, a price-to-earnings ratio of 17.29, a PEG ratio of 1.27 and a beta of 0.72. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The firm had revenue of $11.80 billion during the quarter, compared to analysts’ expectations of $11.04 billion. During the same quarter in the prior year, the company earned $1.97 EPS. The company’s revenue was down 31.1% compared to the same quarter last year. On average, equities research analysts forecast that Toronto Dominion Bank will post 6.91 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be given a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, July 10th. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio is currently 48.52%.

Institutional Investors Weigh In On Toronto Dominion Bank

Several hedge funds have recently modified their holdings of the business. Bayban bought a new position in shares of Toronto Dominion Bank during the 4th quarter worth approximately $28,000. Harvest Fund Management Co. Ltd raised its stake in shares of Toronto Dominion Bank by 112.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock worth $30,000 after acquiring an additional 168 shares in the last quarter. CBIZ Investment Advisory Services LLC bought a new position in shares of Toronto Dominion Bank during the 4th quarter worth approximately $34,000. Brown Lisle Cummings Inc. raised its stake in shares of Toronto Dominion Bank by 88.4% during the 1st quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock worth $38,000 after acquiring an additional 191 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Toronto Dominion Bank by 660.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock worth $38,000 after acquiring an additional 456 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TD shares. Zacks Research cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Royal Bank Of Canada boosted their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research report on Monday. Raymond James Financial raised shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Wall Street Zen cut shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Finally, Weiss Ratings cut shares of Toronto Dominion Bank from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Toronto Dominion Bank has an average rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Company Profile

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.