Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) – Equities researchers at Desjardins issued their Q1 2018 earnings per share estimates for shares of Toronto Dominion Bank in a research note issued on Thursday. Desjardins analyst D. Young expects that the bank will earn $1.08 per share for the quarter. Desjardins also issued estimates for Toronto Dominion Bank’s Q2 2018 earnings at $1.13 EPS, Q3 2018 earnings at $1.19 EPS, Q4 2018 earnings at $1.15 EPS and FY2019 earnings at $4.92 EPS.
Several other equities analysts also recently commented on TD. Zacks Investment Research upgraded Toronto Dominion Bank from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Wednesday, August 9th. BidaskClub downgraded Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Howard Weil upgraded Toronto Dominion Bank to an “outperform” rating in a report on Monday, August 21st. Scotiabank upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Monday, August 21st. Finally, Canaccord Genuity reiterated a “buy” rating and set a $72.00 price target on shares of Toronto Dominion Bank in a report on Thursday, August 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $72.50.
Toronto Dominion Bank announced that its board has authorized a stock repurchase plan on Thursday, August 31st that allows the company to repurchase 20,000,000 shares. This repurchase authorization allows the bank to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th will be given a $0.466 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.86 annualized dividend and a dividend yield of 3.27%. Toronto Dominion Bank’s dividend payout ratio is 44.18%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. AXA boosted its position in shares of Toronto Dominion Bank by 2.1% in the third quarter. AXA now owns 1,709,433 shares of the bank’s stock valued at $96,190,000 after acquiring an additional 35,760 shares during the period. Chicago Partners Investment Group LLC boosted its position in shares of Toronto Dominion Bank by 444.6% in the third quarter. Chicago Partners Investment Group LLC now owns 4,831 shares of the bank’s stock valued at $272,000 after acquiring an additional 3,944 shares during the period. Coastline Trust Co boosted its position in shares of Toronto Dominion Bank by 4.9% in the third quarter. Coastline Trust Co now owns 95,955 shares of the bank’s stock valued at $5,399,000 after acquiring an additional 4,445 shares during the period. Belpointe Asset Management LLC bought a new stake in shares of Toronto Dominion Bank in the third quarter valued at approximately $281,000. Finally, Fieldpoint Private Securities LLC bought a new stake in shares of Toronto Dominion Bank in the third quarter valued at approximately $1,376,000. 48.66% of the stock is owned by institutional investors.
Toronto Dominion Bank Company Profile
Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.
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