Toronto-Dominion Bank (NYSE:TD) Posts Quarterly Earnings Results, Beats Expectations By $0.45 EPS

Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) announced its quarterly earnings data on Thursday. The bank reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.45, Briefing.com reports. Toronto-Dominion Bank had a return on equity of 16.18% and a net margin of 30.57%. The company had revenue of $11.26 billion during the quarter, compared to analyst estimates of $10.18 billion. During the same quarter last year, the firm posted $1.62 EPS. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis.

Shares of TD opened at $75.61 on Friday. The company has a market cap of $136.61 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.55 and a beta of 0.96. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. Toronto-Dominion Bank has a 12-month low of $62.81 and a 12-month high of $86.01. The stock has a 50-day moving average price of $75.19 and a 200-day moving average price of $77.08.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, July 31st. Stockholders of record on Friday, July 8th will be given a dividend of $0.692 per share. The ex-dividend date is Thursday, July 7th. This represents a $2.77 dividend on an annualized basis and a dividend yield of 3.66%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 44.81%.

Several hedge funds and other institutional investors have recently made changes to their positions in TD. Sequoia Financial Advisors LLC purchased a new position in Toronto-Dominion Bank in the 4th quarter worth approximately $328,000. Enlightenment Research LLC purchased a new position in Toronto-Dominion Bank in the 1st quarter worth approximately $286,000. Ontario Teachers Pension Plan Board increased its stake in Toronto-Dominion Bank by 24.6% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 3,561 shares of the bank’s stock worth $283,000 after purchasing an additional 703 shares during the period. Brown Brothers Harriman & Co. increased its stake in Toronto-Dominion Bank by 33.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 3,300 shares of the bank’s stock worth $262,000 after purchasing an additional 820 shares during the period. Finally, Cresset Asset Management LLC increased its stake in Toronto-Dominion Bank by 16.4% in the 1st quarter. Cresset Asset Management LLC now owns 3,132 shares of the bank’s stock worth $249,000 after purchasing an additional 442 shares during the period. 50.00% of the stock is currently owned by institutional investors.

Several equities research analysts recently weighed in on TD shares. CIBC lowered Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating in a report on Monday, April 11th. National Bank Financial lifted their price objective on Toronto-Dominion Bank from C$100.00 to C$102.00 in a report on Friday. Stifel Nicolaus lifted their price objective on Toronto-Dominion Bank from C$95.00 to C$97.00 in a report on Friday. Scotiabank decreased their price objective on Toronto-Dominion Bank from C$105.00 to C$102.00 in a report on Friday, May 20th. Finally, Credit Suisse Group raised their target price on Toronto-Dominion Bank from C$102.00 to C$103.00 in a research note on Friday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $99.19.

Toronto-Dominion Bank Company Profile (Get Rating)

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.

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