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

Toronto-Dominion Bank (NYSE:TDGet Rating) (TSE:TD) released its quarterly earnings data on Thursday. The bank reported $2.02 EPS for the quarter, beating the consensus estimate of $1.57 by $0.45, Briefing.com reports. The business had revenue of $11.26 billion for the quarter, compared to the consensus estimate of $10.18 billion. Toronto-Dominion Bank had a net margin of 30.57% and a return on equity of 16.18%. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.62 EPS.

NYSE:TD traded up $0.98 during trading hours on Friday, reaching $75.61. 1,709,543 shares of the company were exchanged, compared to its average volume of 2,508,336. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The stock’s 50-day moving average is $75.19 and its 200-day moving average is $77.08. The firm 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. Toronto-Dominion Bank has a twelve month low of $62.81 and a twelve month high of $86.01.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC acquired a new stake in shares of Toronto-Dominion Bank in the fourth quarter valued at about $328,000. Enlightenment Research LLC acquired a new stake in shares of Toronto-Dominion Bank in the first quarter valued at about $286,000. Ontario Teachers Pension Plan Board raised its position in shares of Toronto-Dominion Bank by 24.6% in the first quarter. Ontario Teachers Pension Plan Board now owns 3,561 shares of the bank’s stock valued at $283,000 after buying an additional 703 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in shares of Toronto-Dominion Bank by 33.1% in the first quarter. Brown Brothers Harriman & Co. now owns 3,300 shares of the bank’s stock valued at $262,000 after buying an additional 820 shares during the last quarter. Finally, Cresset Asset Management LLC raised its position in shares of Toronto-Dominion Bank by 16.4% in the first quarter. Cresset Asset Management LLC now owns 3,132 shares of the bank’s stock valued at $249,000 after buying an additional 442 shares during the last quarter. Institutional investors and hedge funds own 50.00% of the company’s stock.

Several research firms have recently commented on TD. CIBC downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating in a report on Monday, April 11th. StockNews.com started coverage on shares of Toronto-Dominion Bank in a report on Thursday, March 31st. They set a “hold” rating on the stock. Scotiabank lowered their price target on shares of Toronto-Dominion Bank from C$105.00 to C$102.00 in a report on Friday, May 20th. Desjardins increased their price target on shares of Toronto-Dominion Bank from C$110.00 to C$113.00 in a report on Monday, March 7th. Finally, Zacks Investment Research raised shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Friday, April 29th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $99.19.

About Toronto-Dominion Bank (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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Earnings History for Toronto-Dominion Bank (NYSE:TD)

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