The Toronto-Dominion Bank Expected to Post Q2 2024 Earnings of $1.34 Per Share (NYSE:TD)

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Cormark issued their Q2 2024 earnings estimates for Toronto-Dominion Bank in a report issued on Wednesday, May 22nd. Cormark analyst L. Persaud forecasts that the bank will post earnings of $1.34 per share for the quarter. The consensus estimate for Toronto-Dominion Bank’s current full-year earnings is $5.72 per share. Cormark also issued estimates for Toronto-Dominion Bank’s FY2024 earnings at $5.69 EPS and FY2025 earnings at $6.04 EPS.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. The company had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $9.90 billion. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.35%.

TD has been the topic of a number of other research reports. 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. Jefferies Financial Group began coverage on shares of Toronto-Dominion Bank in a research note on Thursday, February 22nd. They set a “hold” rating on the stock. BMO Capital Markets decreased their price target on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a research note on Friday. Barclays began coverage on shares of Toronto-Dominion Bank in a research report on Wednesday, March 20th. They set an “equal weight” rating on the stock. Finally, National Bank Financial cut shares of Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a research report on Thursday. 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $88.00.

Toronto-Dominion Bank Price Performance

Toronto-Dominion Bank stock opened at $56.56 on Friday. The company has a market cap of $99.52 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.71 and a beta of 0.84. The firm’s fifty day moving average is $58.05 and its 200 day moving average is $59.94. 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 has a 52-week low of $54.12 and a 52-week high of $66.15.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TD. Mather Group LLC. bought a new position in shares of Toronto-Dominion Bank in the first quarter worth about $29,000. LifeSteps Financial Inc. bought a new position in shares of Toronto-Dominion Bank in the first quarter worth about $30,000. Bank of New Hampshire purchased a new stake in Toronto-Dominion Bank in the fourth quarter worth about $32,000. Avior Wealth Management LLC lifted its stake in Toronto-Dominion Bank by 92.9% in the fourth quarter. Avior Wealth Management LLC now owns 594 shares of the bank’s stock worth $38,000 after acquiring an additional 286 shares during the period. Finally, Optiver Holding B.V. purchased a new stake in Toronto-Dominion Bank in the fourth quarter worth about $39,000. 52.37% of the stock is currently owned by institutional investors.

Toronto-Dominion Bank Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date is Wednesday, July 10th. Toronto-Dominion Bank’s payout ratio is presently 68.64%.

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.