The Toronto-Dominion Bank (NYSE:TD) Plans Quarterly Dividend of $0.74

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) declared a quarterly dividend on Thursday, May 23rd, Zacks reports. Shareholders of record on Wednesday, July 10th will be paid a dividend of 0.74 per share by the bank on Wednesday, July 31st. This represents a $2.96 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date is Wednesday, July 10th.

Toronto-Dominion Bank has raised its dividend payment by an average of 7.3% per year over the last three years and has increased its dividend every year for the last 10 years. Toronto-Dominion Bank has a dividend payout ratio of 49.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Toronto-Dominion Bank to earn $6.11 per share next year, which means the company should continue to be able to cover its $2.99 annual dividend with an expected future payout ratio of 48.9%.

Toronto-Dominion Bank Price Performance

Shares of Toronto-Dominion Bank stock opened at $56.55 on Friday. The business has a 50 day simple moving average of $58.05 and a two-hundred day simple moving average of $59.93. Toronto-Dominion Bank has a 12 month low of $54.12 and a 12 month high of $66.15. The stock has a market capitalization of $99.50 billion, a P/E ratio of 12.85, a PEG ratio of 1.71 and a beta of 0.84. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.99 and a quick ratio of 0.99.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, May 23rd. The bank reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. Toronto-Dominion Bank had a return on equity of 14.35% and a net margin of 9.96%. The business had revenue of $10.18 billion during the quarter, compared to analysts’ expectations of $9.90 billion. As a group, analysts predict that Toronto-Dominion Bank will post 5.72 EPS for the current fiscal year.

Analysts Set New Price Targets

TD has been the subject of a number of research analyst reports. National Bank Financial cut Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a report on Thursday. Barclays initiated coverage on Toronto-Dominion Bank in a report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Jefferies Financial Group initiated coverage on Toronto-Dominion Bank in a report on Thursday, February 22nd. They issued a “hold” rating for the company. BMO Capital Markets cut their price target on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a report on Friday. Finally, Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, April 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Toronto-Dominion Bank presently has an average rating of “Hold” and a consensus price target of $88.00.

Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.