Toronto Dominion Bank (NYSE:TD) Reaches New 52-Week High – Should You Buy?

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $79.49 and last traded at $78.82, with a volume of 273472 shares trading hands. The stock had previously closed at $78.40.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Desjardins upgraded shares of Toronto Dominion Bank from a “hold” rating to a “buy” rating in a report on Wednesday, August 13th. Zacks Research lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen upgraded shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, May 24th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $93.00.

Toronto Dominion Bank Trading Up 0.3%

The business has a fifty day moving average price of $74.63 and a 200 day moving average price of $68.27. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $133.70 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 1.69 and a beta of 0.81.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.45. The business had revenue of $10.12 billion for the quarter, compared to analysts’ expectations of $13.73 billion. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.05 earnings per share. On average, equities analysts expect that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 5.3%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, October 10th. Toronto Dominion Bank’s payout ratio is 36.10%.

Hedge Funds Weigh In On Toronto Dominion Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TD. Vanguard Group Inc. boosted its holdings in shares of Toronto Dominion Bank by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 77,187,442 shares of the bank’s stock worth $5,677,291,000 after purchasing an additional 2,552,603 shares in the last quarter. TD Asset Management Inc lifted its position in shares of Toronto Dominion Bank by 0.9% in the second quarter. TD Asset Management Inc now owns 37,365,008 shares of the bank’s stock valued at $2,742,748,000 after acquiring an additional 329,429 shares in the last quarter. Mackenzie Financial Corp increased its stake in Toronto Dominion Bank by 4.5% during the first quarter. Mackenzie Financial Corp now owns 29,252,736 shares of the bank’s stock worth $1,752,806,000 after acquiring an additional 1,262,062 shares during the last quarter. 1832 Asset Management L.P. boosted its position in shares of Toronto Dominion Bank by 0.5% during the second quarter. 1832 Asset Management L.P. now owns 22,548,848 shares of the bank’s stock valued at $1,656,213,000 after buying an additional 101,678 shares during the period. Finally, Norges Bank purchased a new stake in Toronto Dominion Bank during the second quarter worth $1,543,639,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

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.