Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) – Analysts at Cormark reduced their Q1 2018 earnings per share (EPS) estimates for shares of Toronto Dominion Bank in a research report issued to clients and investors on Friday. Cormark analyst M. Grauman now anticipates that the bank will earn $1.14 per share for the quarter, down from their prior forecast of $1.18. Cormark also issued estimates for Toronto Dominion Bank’s Q2 2018 earnings at $1.10 EPS, Q3 2018 earnings at $1.16 EPS, FY2018 earnings at $4.58 EPS, Q1 2019 earnings at $1.20 EPS, Q2 2019 earnings at $1.16 EPS, Q3 2019 earnings at $1.21 EPS, Q4 2019 earnings at $1.24 EPS and FY2019 earnings at $4.81 EPS.
Several other equities analysts also recently commented on the company. Macquarie started coverage on Toronto Dominion Bank in a research report on Tuesday, October 24th. They issued an “outperform” rating for the company. Scotiabank reiterated a “buy” rating and issued a $83.00 target price on shares of Toronto Dominion Bank in a research report on Wednesday, November 22nd. Zacks Investment Research downgraded Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. National Bank Financial upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Friday, September 1st. Finally, BidaskClub upgraded Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. Toronto Dominion Bank has a consensus rating of “Buy” and a consensus target price of $72.50.
Toronto Dominion Bank announced that its board has approved a stock repurchase program on Thursday, August 31st that allows the company to buyback 20,000,000 shares. This buyback authorization allows the bank to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.466 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 3.27%. Toronto Dominion Bank’s dividend payout ratio (DPR) is 44.18%.
Several institutional investors and hedge funds have recently modified their holdings of TD. Parallel Advisors LLC grew its stake in Toronto Dominion Bank by 10.0% during the second quarter. Parallel Advisors LLC now owns 2,151 shares of the bank’s stock worth $111,000 after purchasing an additional 196 shares during the period. Advisory Services Network LLC grew its stake in Toronto Dominion Bank by 26.1% during the second quarter. Advisory Services Network LLC now owns 2,353 shares of the bank’s stock worth $119,000 after purchasing an additional 487 shares during the period. Ropes Wealth Advisors LLC grew its stake in Toronto Dominion Bank by 18.8% during the second quarter. Ropes Wealth Advisors LLC now owns 2,376 shares of the bank’s stock worth $120,000 after purchasing an additional 376 shares during the period. Teachers Advisors LLC grew its stake in Toronto Dominion Bank by 3.7% during the second quarter. Teachers Advisors LLC now owns 2,556 shares of the bank’s stock worth $129,000 after purchasing an additional 92 shares during the period. Finally, Proficio Capital Partners LLC grew its stake in Toronto Dominion Bank by 31.8% during the second quarter. Proficio Capital Partners LLC now owns 2,752 shares of the bank’s stock worth $141,000 after purchasing an additional 664 shares during the period. Institutional investors own 48.66% of the company’s stock.
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Toronto Dominion Bank Company Profile
Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.
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