Toronto-Dominion Bank (TSE:TD) Hits New 1-Year High at $86.99

The Toronto-Dominion Bank (TSE:TD) (NYSE:TD) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as C$86.99 and last traded at C$86.71, with a volume of 680716 shares changing hands. The stock had previously closed at C$85.26.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TD. Cibc World Mkts raised Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. CIBC lifted their price objective on Toronto-Dominion Bank from C$88.00 to C$100.00 in a report on Friday, September 6th. Jefferies Financial Group increased their target price on Toronto-Dominion Bank from C$73.00 to C$82.00 and gave the company a “hold” rating in a research note on Monday, August 12th. BMO Capital Markets dropped their price target on shares of Toronto-Dominion Bank from C$86.00 to C$84.00 and set a “market perform” rating for the company in a research note on Friday, May 24th. Finally, UBS Group set a C$82.00 price objective on shares of Toronto-Dominion Bank and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of C$87.79.

Toronto-Dominion Bank Price Performance

The company has a fifty day moving average of C$80.49 and a 200-day moving average of C$78.93. The firm has a market capitalization of C$153.02 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82.

Toronto-Dominion Bank (TSE:TD) (NYSE:TD) last posted its earnings results on Thursday, August 22nd. The company reported C$2.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$2.07 by C($0.02). Toronto-Dominion Bank had a net margin of 15.72% and a return on equity of 7.33%. The business had revenue of C$14.18 billion during the quarter, compared to analyst estimates of C$14.12 billion. Equities analysts anticipate that The Toronto-Dominion Bank will post 8.3630893 EPS for the current year.

Toronto-Dominion Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a dividend of $1.02 per share. The ex-dividend date is Thursday, October 10th. This represents a $4.08 dividend on an annualized basis and a yield of 4.67%. Toronto-Dominion Bank’s payout ratio is currently 94.44%.

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.