National Bank Financial Equities Analysts Decrease Earnings Estimates for The Toronto-Dominion Bank (NYSE:TD)

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Investment analysts at National Bank Financial decreased their Q3 2024 earnings estimates for shares of Toronto-Dominion Bank in a report issued on Thursday, May 2nd. National Bank Financial analyst G. Dechaine now forecasts that the bank will earn $1.50 per share for the quarter, down from their prior estimate of $1.52. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $5.77 per share. National Bank Financial also issued estimates for Toronto-Dominion Bank’s Q4 2024 earnings at $1.50 EPS, FY2024 earnings at $5.84 EPS and FY2025 earnings at $5.87 EPS.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group started coverage on Toronto-Dominion Bank in a research note on Thursday, February 22nd. They issued a “hold” rating on the stock. Scotiabank raised shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, April 17th. Finally, Barclays initiated coverage on shares of Toronto-Dominion Bank in a research report on Wednesday, March 20th. They set an “equal weight” rating on the stock. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Toronto-Dominion Bank presently has a consensus rating of “Hold” and a consensus target price of $89.33.

Toronto-Dominion Bank Stock Performance

Shares of Toronto-Dominion Bank stock opened at $55.32 on Monday. Toronto-Dominion Bank has a 52 week low of $54.12 and a 52 week high of $66.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $97.54 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.71 and a beta of 0.84. The firm has a fifty day moving average of $58.98 and a two-hundred day moving average of $60.00.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, February 29th. The bank reported $1.47 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $9.35 billion.

Toronto-Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 9th were issued a dividend of $0.7519 per share. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. This represents a $3.01 annualized dividend and a yield of 5.44%. The ex-dividend date was Monday, April 8th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 64.53%.

Institutional Investors Weigh In On Toronto-Dominion Bank

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sei Investments Co. raised its holdings in shares of Toronto-Dominion Bank by 40.4% in the first quarter. Sei Investments Co. now owns 176,584 shares of the bank’s stock valued at $10,662,000 after purchasing an additional 50,850 shares during the last quarter. Atomi Financial Group Inc. grew its position in Toronto-Dominion Bank by 30.6% in the first quarter. Atomi Financial Group Inc. now owns 6,069 shares of the bank’s stock valued at $366,000 after purchasing an additional 1,423 shares in the last quarter. KCM Investment Advisors LLC increased its stake in Toronto-Dominion Bank by 31.5% in the 1st quarter. KCM Investment Advisors LLC now owns 6,297 shares of the bank’s stock valued at $380,000 after buying an additional 1,509 shares during the last quarter. Forsta AP Fonden lifted its position in Toronto-Dominion Bank by 17.3% during the 1st quarter. Forsta AP Fonden now owns 515,200 shares of the bank’s stock worth $31,123,000 after buying an additional 75,900 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its position in Toronto-Dominion Bank by 2.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,362 shares of the bank’s stock worth $626,000 after buying an additional 225 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

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.