Toronto-Dominion Bank (NYSE:TD) (TSE:TD) – Analysts at National Bank Financial cut their Q1 2019 earnings estimates for Toronto-Dominion Bank in a research report issued on Thursday, November 29th. National Bank Financial analyst G. Dechaine now expects that the bank will post earnings per share of $1.29 for the quarter, down from their prior forecast of $1.32. National Bank Financial also issued estimates for Toronto-Dominion Bank’s Q2 2019 earnings at $1.29 EPS, FY2019 earnings at $5.21 EPS and FY2020 earnings at $5.54 EPS.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, November 29th. The bank reported $1.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.40. Toronto-Dominion Bank had a net margin of 21.27% and a return on equity of 16.99%. The business had revenue of $10.12 billion for the quarter, compared to analyst estimates of $9.31 billion. During the same quarter in the previous year, the firm posted $1.36 earnings per share. Toronto-Dominion Bank’s revenue was up 9.2% compared to the same quarter last year.
Shares of TD stock opened at $55.30 on Monday. Toronto-Dominion Bank has a 1 year low of $52.83 and a 1 year high of $62.00. The firm has a market cap of $101.42 billion, a P/E ratio of 10.99, a P/E/G ratio of 1.00 and a beta of 1.01. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.91 and a current ratio of 0.91.
A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Toronto-Dominion Bank by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 47,982,817 shares of the bank’s stock valued at $2,917,356,000 after purchasing an additional 1,273,742 shares in the last quarter. FIL Ltd boosted its stake in shares of Toronto-Dominion Bank by 8.6% in the 3rd quarter. FIL Ltd now owns 36,739,701 shares of the bank’s stock valued at $2,232,570,000 after purchasing an additional 2,900,086 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Toronto-Dominion Bank by 3.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,226,465 shares of the bank’s stock valued at $1,167,480,000 after purchasing an additional 576,340 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in shares of Toronto-Dominion Bank by 0.7% in the 2nd quarter. Great West Life Assurance Co. Can now owns 17,918,703 shares of the bank’s stock valued at $1,040,423,000 after purchasing an additional 119,426 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Toronto-Dominion Bank by 0.7% in the 3rd quarter. CIBC Asset Management Inc now owns 17,745,849 shares of the bank’s stock valued at $1,077,525,000 after purchasing an additional 118,913 shares in the last quarter. 47.43% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Thursday, January 10th will be issued a $0.509 dividend. This represents a $2.04 annualized dividend and a yield of 3.68%. The ex-dividend date is Wednesday, January 9th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 41.35%.
About Toronto-Dominion Bank
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to small, medium, and large businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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