Toronto-Dominion Bank (NYSE:TD) Stock Price Down 6.8%

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD)’s share price traded down 6.8% on Friday . The stock traded as low as $54.15 and last traded at $54.15. 4,979,305 shares were traded during mid-day trading, an increase of 65% from the average session volume of 3,009,613 shares. The stock had previously closed at $58.08.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TD shares. Jefferies Financial Group initiated coverage on shares of Toronto-Dominion Bank in a research report on Thursday, February 22nd. They set a “hold” rating for the company. Barclays assumed coverage on Toronto-Dominion Bank in a research report on Wednesday, March 20th. They set an “equal weight” rating on the stock. Finally, Scotiabank upgraded Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $89.33.

Toronto-Dominion Bank Stock Performance

The business has a fifty day moving average of $59.16 and a 200 day moving average of $60.03. The company has a market cap of $96.38 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.70 and a beta of 0.85. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.09.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, February 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. Toronto-Dominion Bank had a net margin of 11.16% and a return on equity of 14.15%. The business had revenue of $10.07 billion for the quarter, compared to the consensus estimate of $9.35 billion. On average, equities analysts predict that The Toronto-Dominion Bank will post 5.77 EPS for the current year.

Toronto-Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 9th were issued a $0.7519 dividend. The ex-dividend date of this dividend was Monday, April 8th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. This represents a $3.01 annualized dividend and a yield of 5.50%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 30.56%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Mediolanum International Funds Ltd purchased a new stake in Toronto-Dominion Bank in the first quarter worth $8,562,000. Lorne Steinberg Wealth Management Inc. grew its position in shares of Toronto-Dominion Bank by 2.4% in the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 134,574 shares of the bank’s stock worth $8,124,000 after buying an additional 3,149 shares during the period. Pacific Wealth Strategies Group Inc. increased its stake in shares of Toronto-Dominion Bank by 13.2% in the 1st quarter. Pacific Wealth Strategies Group Inc. now owns 16,554 shares of the bank’s stock worth $1,000,000 after acquiring an additional 1,935 shares in the last quarter. FORA Capital LLC bought a new position in shares of Toronto-Dominion Bank in the 1st quarter worth about $4,025,000. Finally, FinTrust Capital Advisors LLC boosted its stake in Toronto-Dominion Bank by 241.2% during the first quarter. FinTrust Capital Advisors LLC now owns 1,235 shares of the bank’s stock worth $75,000 after acquiring an additional 873 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

About Toronto-Dominion Bank

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.