The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) – Investment analysts at National Bank Financial upped their Q1 2023 earnings estimates for Toronto-Dominion Bank in a report released on Tuesday, February 21st. National Bank Financial analyst G. Dechaine now forecasts that the bank will post earnings of $1.64 per share for the quarter, up from their prior forecast of $1.55. The consensus estimate for Toronto-Dominion Bank's current full-year earnings is $6.66 per share. National Bank Financial also issued estimates for Toronto-Dominion Bank's Q2 2023 earnings at $1.63 EPS, Q3 2023 earnings at $1.78 EPS, Q4 2023 earnings at $1.76 EPS and FY2024 earnings at $7.24 EPS.
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Several other research firms have also recently commented on TD. Credit Suisse Group lifted their price target on Toronto-Dominion Bank from C$96.00 to C$98.00 in a report on Friday, December 2nd. Scotiabank upped their price target on shares of Toronto-Dominion Bank from C$100.00 to C$104.00 in a research report on Friday, February 17th. Desjardins lifted their price target on shares of Toronto-Dominion Bank from C$105.00 to C$106.00 in a report on Tuesday, February 7th. Canaccord Genuity Group upgraded Toronto-Dominion Bank from a "hold" rating to a "buy" rating and upped their price objective for the stock from C$95.00 to C$103.00 in a report on Monday, December 5th. Finally, Canaccord Genuity Group upgraded Toronto-Dominion Bank from a "hold" rating to a "buy" rating in a report on Friday, December 2nd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.57.
Toronto-Dominion Bank Stock Performance
Toronto-Dominion Bank stock opened at $66.78 on Thursday. The stock has a fifty day moving average price of $66.70 and a 200 day moving average price of $65.60. Toronto-Dominion Bank has a 52 week low of $57.27 and a 52 week high of $82.64. The firm has a market capitalization of $121.67 billion, a P/E ratio of 9.12, a PEG ratio of 1.37 and a beta of 0.90. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.11.
Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) last issued its quarterly earnings results on Thursday, December 1st. The bank reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.14. Toronto-Dominion Bank had a return on equity of 15.91% and a net margin of 23.48%. The company had revenue of $11.69 billion during the quarter.
Hedge Funds Weigh In On Toronto-Dominion Bank
Several hedge funds and other institutional investors have recently bought and sold shares of TD. CVA Family Office LLC purchased a new stake in Toronto-Dominion Bank during the 4th quarter worth $233,000. Boulder Wealth Advisors LLC acquired a new stake in shares of Toronto-Dominion Bank during the fourth quarter valued at about $50,000. Security National Bank of SO Dak increased its position in shares of Toronto-Dominion Bank by 3.5% during the fourth quarter. Security National Bank of SO Dak now owns 24,918 shares of the bank's stock worth $1,614,000 after acquiring an additional 835 shares during the last quarter. Massachusetts Wealth Management acquired a new position in shares of Toronto-Dominion Bank in the fourth quarter worth about $1,179,000. Finally, GSB Wealth Management LLC boosted its holdings in Toronto-Dominion Bank by 1.9% in the fourth quarter. GSB Wealth Management LLC now owns 23,675 shares of the bank's stock valued at $1,533,000 after purchasing an additional 449 shares during the last quarter. 49.22% of the stock is owned by institutional investors and hedge funds.
Toronto-Dominion Bank Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 31st. Shareholders of record on Friday, January 6th were given a $0.7081 dividend. The ex-dividend date was Thursday, January 5th. This is a positive change from Toronto-Dominion Bank's previous quarterly dividend of $0.70. This represents a $2.83 annualized dividend and a yield of 4.24%. Toronto-Dominion Bank's dividend payout ratio (DPR) is 38.66%.
Toronto-Dominion Bank Company Profile
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The Toronto-Dominion Bank engages in the provision of financial products and services. It operates through the following segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The Canadian Retail segment offers various financial products and services, as well as telephone, Internet, and mobile banking services.
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- Get a free copy of the StockNews.com research report on Toronto-Dominion Bank (TD)
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