Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Equities research analysts at National Bank Financial increased their Q2 2018 EPS estimates for Toronto-Dominion Bank in a research note issued to investors on Thursday, Zacks Investment Research reports. National Bank Financial analyst G. Dechaine now forecasts that the bank will post earnings per share of $1.14 for the quarter, up from their previous forecast of $1.09. National Bank Financial also issued estimates for Toronto-Dominion Bank’s Q3 2018 earnings at $1.26 EPS, Q4 2018 earnings at $1.22 EPS, FY2018 earnings at $4.83 EPS and FY2019 earnings at $5.24 EPS.
TD has been the topic of several other reports. Zacks Investment Research lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Saturday, February 10th. CIBC upgraded Toronto-Dominion Bank from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 1st. Scotiabank reiterated a “buy” rating and issued a $83.00 price objective on shares of Toronto-Dominion Bank in a research note on Wednesday, November 22nd. Bank of America upped their price objective on Toronto-Dominion Bank from $71.00 to $87.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, Desjardins upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $77.20.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, March 1st. The bank reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. Toronto-Dominion Bank had a return on equity of 15.76% and a net margin of 22.12%. The firm had revenue of $9.36 billion for the quarter, compared to analyst estimates of $8.96 billion. During the same period in the previous year, the company posted $1.33 earnings per share. The company’s quarterly revenue was up 2.6% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Tuesday, April 10th will be issued a $0.522 dividend. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.47. This represents a $2.09 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Monday, April 9th. Toronto-Dominion Bank’s payout ratio is presently 46.76%.
Several institutional investors and hedge funds have recently made changes to their positions in TD. Envestnet Asset Management Inc. lifted its holdings in Toronto-Dominion Bank by 5.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 97,723 shares of the bank’s stock worth $5,725,000 after buying an additional 4,764 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Toronto-Dominion Bank by 0.5% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 295,328 shares of the bank’s stock worth $13,808,000 after buying an additional 1,400 shares in the last quarter. Letko Brosseau & Associates Inc. lifted its holdings in Toronto-Dominion Bank by 2.1% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 6,636,387 shares of the bank’s stock worth $390,095,000 after buying an additional 134,638 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Toronto-Dominion Bank by 136.3% during the 4th quarter. William Blair Investment Management LLC now owns 4,885,591 shares of the bank’s stock worth $286,853,000 after buying an additional 2,818,050 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in Toronto-Dominion Bank by 48.6% during the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 111,550 shares of the bank’s stock worth $6,557,000 after buying an additional 36,500 shares in the last quarter. 49.78% of the stock is currently owned by institutional investors and hedge funds.
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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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